

Success of Crowdfunding Puts Pressure on Entrepreneurs - benackles
http://www.nytimes.com/2012/09/18/technology/success-of-crowdfunding-puts-pressure-on-entrepreneurs.html

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nancyhua
Crowdfunding as it stands is a form of charity or maybe status because there's
no guarantee anyone will even attempt to follow through with anything. That's
why I only use it for charity or art. Are they attempting to change this in
any way?

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001sky
_A study by Ethan Mollick, a professor of management at the Wharton School of
the University of Pennsylvania, found that 75 percent of design- and
technology-related projects on Kickstarter, most of which involve physical
products, failed to meet their promised deadlines._

\--Key point: Crowd funding is a loose form of contract.

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JoeAltmaier
Is meeting the deadline the same as defaulting? I was unaware a timeline in a
Kickstarter promotion was part of any contract - its more like salesmanship.

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001sky
Some of kickstarter campaigns are strucured as actual (or implied) pre-
orders.[1] Any such quid-pro-quo is a loose form of contract. With the
emphasis on _loose_.

[1] "Cash in return for the promise of a future reward," per the article with
examples also referenced therin.

