Crowd funding...

[vortecjr]

I see a big distinction between a company needing the money and a company wanting the money. What do you think?

 

Jesus R

[Audio_ELF]

I see a big distinction between a company needing the money and a company wanting the money. What do you think?

I agree Jesus ... there is also a distinction between the Kickstarter scheme, where you are pre-ordering a product and Indigogo where you are providing funding to develop a future product.

 

The former should have no risk to the consumer, the latter is a complete punt.

 

I assume you saw the previous discussion on crowd funding?

[4est]

Three cheers Jesus!

 

It is one thing for a couple of people starting out, but for Neil Young, or an existing company? Sorry. Bring it to bear, if it is good people will buy it. The LH Geek thing has me floored. Everyone is so excited and throwing them money for something that no one has even built, let alone heard. WTF? I am hoping it is a POS personally. Maybe teach some lessons. Unless that is, that the expectation bias is so strong that it is automatically a great product...

[Blake]

The LH Geek thing has me floored. Everyone is so excited and throwing them money for something that no one has even built, let alone heard. WTF? I am hoping it is a POS personally. Maybe teach some lessons. Unless that is, that the expectation bias is so strong that it is automatically a great product...

 

Warning, off thread post:

 

The Geek Out usb dongle headphone dac/amp is shipping now and in the hands of a number of users. It is still early in the process, but in terms of sonics, so far the reviews are extremely positive from consumers and one professional reviewer (soon to be posted on Part Time Audiophile).

[Superdad]

I agree Jesus ... there is also a distinction between the Kickstarter scheme, where you are pre-ordering a product and Indigogo where you are providing funding to develop a future product.

 

The former should have no risk to the consumer, the latter is a complete punt.

 

Eloise: I've noted you saying something to the above affect previously. While there are certainly multiple differences between Kickstarter and Indiegogo, I don't think the risk difference to the backers is much different. Certainly not in the way you have stated.

 

Yes, a primary difference is the "hit the goal or get nothing" of KS, versus being able to keep the money regardless with Indiegogo. But creator pays a 9% fee to Indiegogo if you don't hit your goal and want to keep the money (only 4% if you hit the goal). And with both systems, the money does not go to the creator until after the campaign has ended (though with Indiegogo the backer does get charged before the campaign ends).

[Audio_ELF]

Eloise: I've noted you saying something to the above affect previously. While there are certainly multiple differences between Kickstarter and Indiegogo, I don't think the risk difference to the backers is much different. Certainly not in the way you have stated.

I think somewhere I've had a misunderstanding with Kickstarter - I was under the impression from somewhere that Kickstarter no money was collected until the product was shipping - I understand reading again that's wrong and funds are collected at the end of a (successful) campaign.

 

Eloise

[Superdad]

I meant to include the following link for a surface comparison: Kickstarter Vs IndieGoGo Choosing Your Crowdfunding Platform - Blog - Using Kickstarter.com to Create an Idea, Build a Community and Get Crowdfunded.

 

Hope you have a nice weekend filled with music Eloise.

 

Best,

ALEX

[wappinghigh]

Yes... Well said Jesus..