The Death of CrowdFunding

By Guy Wrigh,
Crowdfunding sites have been springing up like mushrooms after a spring rain and some of the projects have been inspiring, innovative and worthwhile, but recently crowdfunding sites have been swamped with less than noteworthy projects and more than a few scams.

I’ve been a fan of crowdfunding sites like Kickstarter and Indiegogo for a while now because they sometimes bring to light some ingenious ideas (and some downright silly ones too). But recently I’ve noticed more and more projects that are downright stupid, absurd, technologically impossible, derivative, self serving or outright scams.

In the past month I’ve seen a bunch of automatic plant watering systems, a score of fitness apps, GPS tracking devices for kids/pets/bikes, quad-copters galore, device chargers, apps to teach kids how to read, various robot kits, more than a handful of 3D printers/cutters, numerous camera stabilizers, solar-powered any- and everythings, more bike gadgets than you can count and dozens of social media dating site ideas. And these are all legitimate projects put forward by people who honestly believe in what they are doing.

Mixed in with these are the ‘I need a new car’ or ‘I need a new PC’ or ‘I want money to restore an antique vending machine’ or ‘let’s build a sustainable garden in Pittsburg’ projects – basically people begging for money.

Read more at http://www.tgdaily.com/startups/117146-the-death-of-crowdfunding#xAtL9pQCYRTJ3V1M.99

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