{"id":2492,"date":"2014-10-28T12:49:21","date_gmt":"2014-10-28T16:49:21","guid":{"rendered":"http:\/\/peroty.com\/blog\/?p=2492"},"modified":"2014-10-28T12:49:21","modified_gmt":"2014-10-28T16:49:21","slug":"crowdfunding-is-a-lottery","status":"publish","type":"post","link":"https:\/\/peroty.com\/blog\/mentioned\/crowdfunding-is-a-lottery\/","title":{"rendered":"Crowdfunding is a lottery"},"content":{"rendered":"<blockquote><p>\n  A project can go off the rails and fail even after its funding succeeds for a number of reasons. There can be unforeseen costs, or design problems, or a team member quits or fails to deliver their part of the project. Often, when a project skids to a halt, the final updates are obscured from the public and sent only to backers, which may be part of the reason failures are often not well-publicized. Occasionally, backers who receive them pass them on or post them publicly on forums, which is as good as it gets in terms of letting the outside world know a project did not ultimately pan out.\n<\/p><\/blockquote>\n<p><a href=\"http:\/\/arstechnica.com\/business\/2014\/10\/the-ugly-afterlife-of-crowdfunding-projects-that-never-ship-and-never-end\/\">The ugly afterlife of crowdfunding projects that never ship and never end | Ars Technica<\/a><\/p>\n<p>This sums up my views on Kickstarter nicely. I&#8217;ve only backed three projects. One failed to be get funded, one involved someone I knew online and trusted, the last one was a fantastic <a href=\"https:\/\/www.kickstarter.com\/projects\/inversephase\/nine-inch-nintendos-8-bit-nails-something-like-tha\">8-bit Nine Inch Nails album.<\/a><\/p>\n<p>None of them were big risks. I spent $40 across both successful projects and would have given $20 to the one that failed.<\/p>\n<p>Overall, my investment of $60 is not outrageous and I knew going into them it was money I could afford to lose. Even if successful, there is no guarantee the thing I&#8217;ve helped fund will materialize. There&#8217;s no guarantee I will ever see anything for my investment.<\/p>\n<p>And I, as the little fish in the investment pond, have no recourse. If the project&#8217;s creator runs out of money, I will not get a refund. I understand that.<\/p>\n<p>Which is why I&#8217;m skeptical about crowd-funding much of anything. I&#8217;m much happier to buy the thing when it comes out than back its creation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A project can go off the rails and fail even after its funding succeeds for a number of reasons. There can be unforeseen costs, or design problems, or a team member quits or fails to deliver their part of the project. Often, when a project skids to a halt, the final updates are obscured from [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[627],"tags":[746,745],"class_list":["post-2492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mentioned","tag-crowd-funding","tag-kickstarter"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/peroty.com\/blog\/wp-content\/uploads\/2014\/10\/kickstarter.jpg?fit=1280%2C853&ssl=1","_links":{"self":[{"href":"https:\/\/peroty.com\/blog\/wp-json\/wp\/v2\/posts\/2492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peroty.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/peroty.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/peroty.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/peroty.com\/blog\/wp-json\/wp\/v2\/comments?post=2492"}],"version-history":[{"count":1,"href":"https:\/\/peroty.com\/blog\/wp-json\/wp\/v2\/posts\/2492\/revisions"}],"predecessor-version":[{"id":2493,"href":"https:\/\/peroty.com\/blog\/wp-json\/wp\/v2\/posts\/2492\/revisions\/2493"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/peroty.com\/blog\/wp-json\/wp\/v2\/media\/2494"}],"wp:attachment":[{"href":"https:\/\/peroty.com\/blog\/wp-json\/wp\/v2\/media?parent=2492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/peroty.com\/blog\/wp-json\/wp\/v2\/categories?post=2492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/peroty.com\/blog\/wp-json\/wp\/v2\/tags?post=2492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}