Thanks, David/Dave, for illuminating that.
That's what I suspected, and it shows how much "standard business
practices" have morphed with the rise of the commerce Web. And while I
understand how they base their assumptions of "caveat emptor" on the fact
that you can do a lot of due diligence research on the Web nowadays, it is
in fact a dramatic difference from traditional venture capitalism.
Obviously kickstarter takes a slice of the action. Bottom line, agree with
their methods or not, they are making their money, and that's why they're
doing it. One more dose of "caveat emptor."
Strange new world. Sometimes I yearn for the days when only the porn sites
were making money off the Web. At least that was honest money.
Dave
> --- In , dcndcn13@... wrote:
>> The thing that makes my brain churn are things like--and I am not talking
>> about Marc here, just wondering in general, "what is the mechanism to
ensure that the commitments kickstarter paid for get carried out, and
who
>> pays you back if it doesn't happen?"
>
>
> There is NO such mechanism. And no, you don't get paid back if it
doesn't
> happen.
>
> Excerpts from Kickstarter's website:
>
> http://www.kickstarter.com/help
>
> Who is responsible for fulfilling the promises of a project?
>
> It is the responsibility of the project creator to fulfill the promises
of
> their project. Kickstarter reviews projects to ensure they do not
violate
> the Project Guidelines, however Kickstarter does not investigate a
creator's ability to complete their project.
>
> Creators are encouraged to share links to any websites that show work
related to the project, or past projects. It's up to them to make the
case
> for their project and their ability to complete it. Because projects are
usually funded by the friends, fans, and communities around its creator,
there are powerful social forces that keep creators accountable.
>
> The web is an excellent resource for learning about someone's prior
experience. If someone has no demonstrable prior history of doing
something like their project, or is unwilling to share information,
backers should consider that when weighing a pledge. If something sounds
too good to be true, it very well may be.
>
>
> Can a project be edited after launching?
>
> Yes, you can edit the following content after launching:
>
> Project description
>
> Video and image
>
> Rewards (add new ones or edit those not yet backed)
>
> Your profile
>
> Project FAQs
>
> The only things that cannot be edited after launch are:
>
> The funding goal*
>
> The project deadline
>
> Rewards that have already been selected by a backer
>
> *While pleas for more money went out, the actual funding goal was never
changed.
>
> \_/
> DED
> TNE @ Yahoo ml Admin
>
>
That's what I suspected, and it shows how much "standard business
practices" have morphed with the rise of the commerce Web. And while I
understand how they base their assumptions of "caveat emptor" on the fact
that you can do a lot of due diligence research on the Web nowadays, it is
in fact a dramatic difference from traditional venture capitalism.
Obviously kickstarter takes a slice of the action. Bottom line, agree with
their methods or not, they are making their money, and that's why they're
doing it. One more dose of "caveat emptor."
Strange new world. Sometimes I yearn for the days when only the porn sites
were making money off the Web. At least that was honest money.
Dave
> --- In , dcndcn13@... wrote:
>> The thing that makes my brain churn are things like--and I am not talking
>> about Marc here, just wondering in general, "what is the mechanism to
ensure that the commitments kickstarter paid for get carried out, and
who
>> pays you back if it doesn't happen?"
>
>
> There is NO such mechanism. And no, you don't get paid back if it
doesn't
> happen.
>
> Excerpts from Kickstarter's website:
>
> http://www.kickstarter.com/help
>
> Who is responsible for fulfilling the promises of a project?
>
> It is the responsibility of the project creator to fulfill the promises
of
> their project. Kickstarter reviews projects to ensure they do not
violate
> the Project Guidelines, however Kickstarter does not investigate a
creator's ability to complete their project.
>
> Creators are encouraged to share links to any websites that show work
related to the project, or past projects. It's up to them to make the
case
> for their project and their ability to complete it. Because projects are
usually funded by the friends, fans, and communities around its creator,
there are powerful social forces that keep creators accountable.
>
> The web is an excellent resource for learning about someone's prior
experience. If someone has no demonstrable prior history of doing
something like their project, or is unwilling to share information,
backers should consider that when weighing a pledge. If something sounds
too good to be true, it very well may be.
>
>
> Can a project be edited after launching?
>
> Yes, you can edit the following content after launching:
>
> Project description
>
> Video and image
>
> Rewards (add new ones or edit those not yet backed)
>
> Your profile
>
> Project FAQs
>
> The only things that cannot be edited after launch are:
>
> The funding goal*
>
> The project deadline
>
> Rewards that have already been selected by a backer
>
> *While pleas for more money went out, the actual funding goal was never
changed.
>
> \_/
> DED
> TNE @ Yahoo ml Admin
>
>