Crowd Funding?

[Taylirious]

Crowd funding/sourcing.

I know this a touchy subject because of fan film projects vs professionals seeking funding for projects too. I was wondering does it matter? Whether it is an entertainment project to people just wanting money to start a business, pay medical bills or to do whatever. How do you feel about it? Do you think it is lazy, greedy or as long as it is allowed then it doesn't matter?

I am in mindset of as long as it is allowed and people don't spam on social media or places like this community then more power to them.

 

[tomalak301]

What's the difference between crowd funding and making a charitable contribution? If people like something and want to support them, than go ahead and donate. The only issue I do have with this kind of thing though is not knowing where the money goes. For example, I would never donate to the Red Cross because my Uncle (Who at the time worked for the FBI) shared some stories about some fishy things they did with the over abundance of money that was donated. If the organization makes it very clear where the money is going and says that all that money is going to said endeavor, than that's a good thing.

 

[Robert Maxwell]

I think it's sad that so many people (i.e. Americans) have to turn to essentially begging on the Internet just to get by. A lot of people use it for medical bills or even just to make rent when they are in a rough spot. That said, I don't blame the people doing it, I blame our shitty safety net.

There's no guarantee people will use the money for what they say (I'm sure some are outright scammers; there always are) but that's why I generally contribute to people I actually know.

This is totally separate from, say, Kickstarter, though. That's its own thing. It's not a charitable contribution so much as customers placing bets that they will receive a product at some point in the future.

 

[Gaith]

Yeah, asking for comment on all kinds of crowdfunding at once is sort of like asking someone their opinion on cars. "How do you feel about ambulances and F1 cars?"

As far as entertainment crowdfunding goes, I could picture contributing to a handful of potential products, but they'd have to appeal to me in a very specific way, and the rewards would have to be tangible.

 

[mos6507]

What rubs me the wrong way is if a well-funded project goes to crowdfunding. The deeper the pockets behind the projects the more I feel that it's being used as a way to avoid risks. You've got to make a compelling sob story that the project just won't happen at all without the crowdfunding.

 

[Robert Maxwell]

I do think it's really scummy for large corporations to crowdfund things they could easily pay for themselves (but don't want to take the risk.) It's essentially turning your customers into investors without any of the actual benefits of being an investor.

Take the money you'd spend crowdfunding an item from GE (or whoever) and buy some of that company's stock, instead. Buy the actual item later, when/if it comes out.

 

[Taylirious]

The promise of something tangible is good and regular people can do that too whether it be a t-shirt or some other item(???). When I was younger selling candy to raise money for stuff was popular but it was usually for an actual cause not out right begging.

I personally don't see the difference in a person asking for money to do X vs a group of people asking for money to do X. I think there is a difference in giving to charity/helping an individual with a need and funding someone's dream.

 

[Owain Taggart]

I do think it's really scummy for large corporations to crowdfund things they could easily pay for themselves (but don't want to take the risk.) It's essentially turning your customers into investors without any of the actual benefits of being an investor.

This. That's exactly what's turned me off from crowdfunding. In general, it's a noble approach, but there's just so much uncertainty.

To use the Oculus Rift as an example, that was essentially a real good example of a successful attempt at crowdsourcing. But the problem then lies in the direction the funds take them. There was controversy that those who had donated felt cheated when Oculus were acquired by Facebook. This I feel entered them into a moral grey area.

I feel in general that it's a bit much to ask the general public for chunks of cash for no tangible benefits. The double-edged sword is that it's a lot more appealing to back those that have proven records, those of which are likely still with major devs. And even then, as the case has shown, even a proven track record is often not enough.

 

[Kestra]

Crowdfunding seems very much an "at your own risk" thing. If it's an individual looking for some help, there's often no way to verify their story or know what they've tried. That's not to say I think it's always bad, just that people need to be prepared for the possibility that their money isn't going to the cause that they thought it was. That's the same case with charities, but there might be more oversight there depending on the charity.

I was on a long-distance forum the other day when someone posted a crowdfunding site to help her and her boyfriend afford to visit each other. I found that pretty irritating, because everyone there is in the same boat. Sure, the distances might differ and people have different funds available to them, but still. She also wasn't really part of the community, so it was basically like asking a bunch of strangers with the same problem to help them.

The medical system here is terrible so I'm glad that this is a potential resource for people, but it's obviously something that people can also use to take advantage.

 

[Robert Maxwell]

Crowdfunding seems very much an "at your own risk" thing. If it's an individual looking for some help, there's often no way to verify their story or know what they've tried. That's not to say I think it's always bad, just that people need to be prepared for the possibility that their money isn't going to the cause that they thought it was. That's the same case with charities, but there might be more oversight there depending on the charity.

Yeah, I definitely agree with that.

I was on a long-distance forum the other day when someone posted a crowdfunding site to help her and her boyfriend afford to visit each other. I found that pretty irritating, because everyone there is in the same boat. Sure, the distances might differ and people have different funds available to them, but still. She also wasn't really part of the community, so it was basically like asking a bunch of strangers with the same problem to help them.

Although it's a hard thing to gauge, I agree that it's pretty crappy for someone to just kinda show up and start asking for money. Some people here have done that and I take a pretty dim view.

An opinion I have that might be a little more controversial is that I don't much care for funding campaigns meant to send somebody to some event they couldn't otherwise afford, when there's not really anything else wrong with them. They don't have cancer, they aren't dying or anything, they just really want to go to some event and can't afford it. I don't begrudge somebody for wanting to go do something fun, but you know, most of us just have to save money for things like that.

I wouldn't leave a nasty comment on someone's page or anything over it, but I do find it a bit lazy--even entitled--to ask other people to fund your vacations/entertainment.

The medical system here is terrible so I'm glad that this is a potential resource for people, but it's obviously something that people can also use to take advantage.

Yeah, I have no problem with people using it for medical (or veterinary) bills at all. I'm glad funding mechanisms exist for that purpose, but ideally there just wouldn't be any possibility of medical bills wiping someone out in the first place.

 

[Owain Taggart]

An opinion I have that might be a little more controversial is that I don't much care for funding campaigns meant to send somebody to some event they couldn't otherwise afford, when there's not really anything else wrong with them. They don't have cancer, they aren't dying or anything, they just really want to go to some event and can't afford it. I don't begrudge somebody for wanting to go do something fun, but you know, most of us just have to save money for things like that.

Yes, I agree. Whenever I see that kind of thing, my thoughts instead go to people who need it in third-world countries. And I have donated to UNICEF in the past and continue to do so when possible. Or if it's for a really good cause where I know where the money is going, then I maybe consider. And they're not pleas coming from Arab princes.

 

[Miss Chicken]

I helped crowd fund the Lammily doll I paid money in March 2014 and got my doll in early December.

I also donated to the crowd funding of little Gammy, the Down Syndrome baby who was born to a surrogate mother, and whose natural parents left him behind in Thailand when they took his normal twin sister home. I think over $250,000 was raised and it was handed over to a charity who bought a house for him nod his Thai family to live in.

I also fund some atheists to make videos via Patreon.

 

[Taylirious]

^ I think it is good to find things you believe in and support them, plus giving whether it is time or money/stuff for something you find worthy is wonderful. Something I am trying to work on is giving.

ETA: I have always tried to give what I can, when I could but sometimes feeling I have nothing to offer has been a roadblock on occasion.

 

[FPAlpha]

I am mostly familiar with crowdfunding through the gaming hobby and it's a godsend for these small companies.

There are so many skilled and creative people out there who can't get their ideas produced because the initial investment is too high. Crowdfunding takes care of that by providing a platform where both parties, the producer of the product and the potential customer/investor can come together to realize a project.

I have seen many interesting games or projects come into life of it and it has enriched gaming as a whole.

I also don't have a problem with established companies using this venue to market/fund their projects. it gives a security to the companies to gauge interest and have it funded so they won't make a loss thus ensuring they won't have to fire staff if their gamble doesn't pay off (and it's always a gamble to introduce a new product no matter what market research or word of mouth says).

You don't have to become a backer, you can also just sit on the sidelines and watch to see if it gets funded and the buy it from the regular store.

All considered crowdfunding is an awesome tool for especially garage companies to get their ideas out and have the security not to be in debt for years to come if the product misfires.