

How a completely funded kickstarter project faded into darkness - rohu1990
http://www.kickstarter.com/projects/lifelog/lifelog-remember-life/posts

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onion2k
Kickstarter projects are often lofty goals to make an app that people think
they can build in a few months, but they forget the "take a wildly pessimistic
guess and then double it" rule of estimating software costs. Project failure
happens. A lot. About 70% of the time in fact (where "failure" means over-
budget, or late, or not to specification, etc. Not _just_ undelivered).

Sidenote: The update mentions spending "countless dollars". If there's one
thing I know about money, it's that it's eminently countable. If the project
starter has spent all the Kickstarter money he should know _exactly_ where and
on what. Whether he chooses to share that information is up to him, but
implying it's all gone and he doesn't really know where should be ringing
alarm bells at Kickstarter HQ.

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rohu1990
You are right, peoples who spend money believing them needs to know what
happened to their money. Founder says he learn a lot from this project, but
peoples didn't fund this project for his Entrepreneur education, they spend it
for the product they told will be available one day. I don't think its that
difficult to launch the App they planned with that long time period they took
(1 and half year)

