In principle they are great as they allow the public to really get behind something they support, however people need to be aware that there is also a chance they will not see the results they are expecting or hoping for, and some campaigns are truly morally questionable.
They have their place and I think, as Nemui said above, allows people to take direct action to support something with lesser chances of the cash getting stuck in bureaucratic traffic. But, there's lack of accountability on that end and well, you just take risks. I also see it as a form of modern-day begging, but done in a more bombastic and heart-tugging manner.
toshihiro: are you confusing crowdfunding with gofundme?
crowdfunding is investing in a startup and the participants usually get the first run of the product at a substantially lower price. it can gauge demand for truly innovative products that don’t exist in a market yet.
we (four guys) did one in 2012 for first generation of a high-tech product (hardware and software) applicable in vr, ar, gamemaking, moviemaking, ergonomic analysis, etc.
goal was $50k, raised over $500k and was one of the most successful crowdfunded entities at the time.
everyone got their product, larger investments were then available through traditional means and the company continues to sell advanced iterations and additional products on all continents except antarctica.
crowdfunding works if the product is viable. users are the investors.
Gofundme is one crowdfunding outfit, Kickstarter is another, Indiegogo is another. Somebody who wants to crowdfund for medical treatment or for the child that has tragically lost their parents isn’t going to be producing a new product, but it is still crowdfunding.
Fifty-fifty. Crowdfunding is good for the projects that otherwise won't find any or not enough financial support. On the other hand, there are also massive negative effects and biases, because also useless, bad or even fake or criminal projects maybe find much support while necessary or positive projects again are still not financed or supported, despite all those crowdfundings, because only very few people see their potential and necessity or they are just simply not in focus and potential supporters are already out of money as they have spent the limited money to other projects before.
Well, a lot of people here make good points. Most of the money goes to people who need it and they thank you for it. There are people who abuse it. There have been cases of that documented. (When caught, these people are usually charged with crime and either jailed or forced to pay the money back.) Now, if it's for me, then it's okay and I'm all for it.
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Haaa Nemui
In principle they are great as they allow the public to really get behind something they support, however people need to be aware that there is also a chance they will not see the results they are expecting or hoping for, and some campaigns are truly morally questionable.
Toshihiro
They have their place and I think, as Nemui said above, allows people to take direct action to support something with lesser chances of the cash getting stuck in bureaucratic traffic. But, there's lack of accountability on that end and well, you just take risks. I also see it as a form of modern-day begging, but done in a more bombastic and heart-tugging manner.
Peter Neil
toshihiro: are you confusing crowdfunding with gofundme?
crowdfunding is investing in a startup and the participants usually get the first run of the product at a substantially lower price. it can gauge demand for truly innovative products that don’t exist in a market yet.
we (four guys) did one in 2012 for first generation of a high-tech product (hardware and software) applicable in vr, ar, gamemaking, moviemaking, ergonomic analysis, etc.
goal was $50k, raised over $500k and was one of the most successful crowdfunded entities at the time.
everyone got their product, larger investments were then available through traditional means and the company continues to sell advanced iterations and additional products on all continents except antarctica.
crowdfunding works if the product is viable. users are the investors.
Haaa Nemui
Gofundme is one crowdfunding outfit, Kickstarter is another, Indiegogo is another. Somebody who wants to crowdfund for medical treatment or for the child that has tragically lost their parents isn’t going to be producing a new product, but it is still crowdfunding.
Peter Neil
i know, but the question in the title is ambiguous and poorly constructed.
Sven Asai
Fifty-fifty. Crowdfunding is good for the projects that otherwise won't find any or not enough financial support. On the other hand, there are also massive negative effects and biases, because also useless, bad or even fake or criminal projects maybe find much support while necessary or positive projects again are still not financed or supported, despite all those crowdfundings, because only very few people see their potential and necessity or they are just simply not in focus and potential supporters are already out of money as they have spent the limited money to other projects before.
Gene Hennigh
Well, a lot of people here make good points. Most of the money goes to people who need it and they thank you for it. There are people who abuse it. There have been cases of that documented. (When caught, these people are usually charged with crime and either jailed or forced to pay the money back.) Now, if it's for me, then it's okay and I'm all for it.
Eastmann
good parts is to help some people in need.say old person,disabled person or somebody need urgent pricey surgery and cant afford to pay for it.
bad part is to get scammed or support some politician in campaign say US presidential elections as good example...
Mr Kipling
They should introduce crowdfunding for many things that are now funded by tax, for example libraries, asylum center hotels, community centers...
beentofivecontinents
They are good overall. Having said that, GoFundMe really takes a huge commission out of the donated funds.