When A Kickstarter Campaign Fails, Does Anyone Get The Money Back? : All Tech Considered : NPR


When A Kickstarter Campaign Fails, Does Anyone Get The Money Back? : All Tech Considered : NPR.

So I call Kickstarter co-founder Yancey Strickler, and ask: What if Uhrman isn’t able to deliver the consoles? Would Kickstarter get involved?

“You know, that would be new ground,” he says. “I don’t know. I mean, no, I don’t think that we would. But certainly, the kind of thing you’re talking about is not a bridge that has been crossed yet. Someday it will. And you know, I think if something did go awry, it would be — it wouldn’t be my favorite day.”

Whoa, back up. After all the hype I’ve been hearing about Kickstarter, I had no idea they had such an incompetent person at the helm. Even if “crossing that bridge” is official company policy, you shouldn’t say it out loud. Regardless of whether I think the world needs another iPhone case, graphic novel, or farm-to-table Podcast, they are still dealing with intellectual property. 

I find most of the stuff on the site contrived, and pointless, but there are some cool and worthwhile projects (think SparkTruck). However, I wouldn’t invest in any of them.

VCs will tell you, they don’t fund ideas, they invest in people. They also know there’s a chance they could lose their entire investment. If Kickstarter wants to be funding platform, that should be part of their message even if it might put a damper on things. Until then, they’re just a marketplace for ideas and ideas are cheap. Implementation is where the money is at. 

Crowd funding is compelling. I think it’ll come into it’s own like e-commerce. When it does, I just don’t think it’ll look like Kickstarter. 

Startups and jobs


A recent study put out by the Kauffman Foundation shows that job creation from new businesses has declined about 12% since the 80s. They also equate this with a drop in startups. While I’m not surprised to to hear job creation is down, I find it hard to believe there has been a decrease in startups.

They’re making a common mistake – assuming all startups are businesses. The startup barrier to entry is so low that it’s hard to take them seriously, and still people do. Here in Chicago, there exists a fairly active startup community, but I wouldn’t say it’s creating jobs, nor does anyone seem to care if they do. Just being a startup in general seems to be enough.

Every business was once a startup, but not every startup will become a business.