Beware - Kickstarter projects - Page 1
Forum section: electronics / general

author: EEVblog
author_rank: Unknown
timestamp: June 27, 2012, 05:10:35 am
content: http://www.theonion.com/video/internet-scam-alert-most-kickstarter-projects-just,28655Dave.

author: Guppzor
author_rank: Contributor
timestamp: June 27, 2012, 05:22:45 am
content: It is The Onion...

author: firewalker
author_rank: Super Contributor
timestamp: June 27, 2012, 05:48:32 am
content: Makes sense tbh. One, will use anything for money.Alexander.

author: EEVblog
author_rank: Unknown
timestamp: June 27, 2012, 06:16:06 am
content: Quote from: Guppzor on June 27, 2012, 05:22:45 amThey always do good work!Dave.

author: jpelczar
author_rank: Contributor
timestamp: June 27, 2012, 06:25:12 am
content: If it's on the Internet then it MUST be true

author: codeboy2k
author_rank: Super Contributor
timestamp: June 27, 2012, 06:51:24 am
content: lolz " FBI estimates 94% of Kickstarter projects are complete shit "

author: G7PSK
author_rank: Super Contributor
timestamp: June 27, 2012, 07:24:17 am
content: 33% of all new business start ups fail in the first 2 years any way, That equals a lot of unhappy friends, family's and banks (which no one cares a S**t about but the money they lend is yours)

author: T4P
author_rank: Super Contributor
timestamp: June 27, 2012, 05:39:09 pm
content: Actually they are sorta right... Right, when i was watching the video, a local pastor of a massive church got arrested by misusing funds for his wife's music career. Right.seems like humans will do anything for moneyAnyway, i laughed at the part when i saw "Ford: Fine, We'll make hybrids if that's what you F****** want"

author: Bored@Work
author_rank: Super Contributor
timestamp: June 27, 2012, 05:48:57 pm
content: Sure, it is the Onion, so back to real life.And in real life you find things like this on ks:http://www.kickstarter.com/projects/210251816/usb-based-variable-power-supply-for-small-projects-0http://www.kickstarter.com/projects/210251816/usb-variable-power-supply-for-small-projects-relauOne is not like the other ...

author: codeboy2k
author_rank: Super Contributor
timestamp: June 27, 2012, 07:34:05 pm
content: Quote from: Bored@Work on June 27, 2012, 05:48:57 pmwhat the hell? not enough funding so relaunch with a lower goal, and peoplestillthrow money at it?I did find that the Onion has a grain of truth in their clip about Kickstarter. There really is a lot of crap there.

author: Bored@Work
author_rank: Super Contributor
timestamp: June 27, 2012, 07:55:12 pm
content: Quote from: codeboy2k on June 27, 2012, 07:34:05 pmYep. Suddenly just 1/3 of the original funding are needed. And I couldn't spot a difference in the product description. I.e. it is IMHO still crap. P. T. Barnum would have a field day with the project backers.

author: EEVblog
author_rank: Unknown
timestamp: June 27, 2012, 11:32:20 pm
content: Quote from: codeboy2k on June 27, 2012, 07:34:05 pmwhat the hell? not enough funding so relaunch with a lower goal, and peoplestillthrow money at it?Well, not that surprising I guess. Those who wanted one before are likely to still want one.QuoteThat's what makes it so damn funny!(Says he who is thinking of trying crowd funding for his USB PSU)Dave.

author: amspire
author_rank: Super Contributor
timestamp: June 28, 2012, 02:29:17 am
content: Dave, I wonder if you can set up a funding system based on the following idea:Someone funds the purchase of a particular part - say the regulator IC, display, etc. Or even funds the purchase of a fixed number of kits. If you sell the product, they get their money back plus a percentage. If you cannot sell the product, they get a share of the unsold products or the parts they purchased.It would mean paperwork (yuck!) but it could be a way of reducing the speculative hit on your own pocket, while providing a decent way out if the sales are less then expected or if it turns out the funding you have is just not enough to get the product working well as expected.It could be that for many people, putting in their $500 is a fun way to be involved, and they may make money. If not, they get $500 worth of parts or supplies. It is probably a better deal then most Kickstarter project investors would ever get.It means that you have no commitment past the current production build, and if an investor makes 20% on the current build, they are pretty like to agree on re-investing their money for a second and third production run. Why wouldn't they if they are making money? Any time the project becomes self funding, you can shut down the contributions.International tax implications? Is that someone at the door - I have to go.Richard.

author: EEVblog
author_rank: Unknown
timestamp: June 28, 2012, 07:09:52 am
content: Sounds very messy.Much easier to simply use the existing crowd funding model as a pre-sales tool, which is how most of thee projects are run.They are simply using Kickstarter et.al as a publicity tool, and minimum investment kick.I could do exactly the same thing with simply taking pre-orders on a shopping cart, but somehow that's just not as cool as crowd fundingThe existing crowd fund model offers zero risk on my part. I prefect the product production first, then set a base price based on a minimum order of units. If it reaches the goal, I get the fund and hit the production button. If it doesn't meet the goal I lose nothing.Dave.