well they donated their money, they didn't invest it. But of course no Kickstarters can turn a profit and be highly successful and must be small all the time right?
and with the money and shares Facebook was offering, don't tell me you would of turned it down....
It doesn't really matter whether I would have turned it down or not. Perhaps I would not have characterized my goals to potential crowd-funders in the way Palmer seems to have done, according to the plethora of upset and disappointed backers he now has.
And I am an advocate for greater rights and benefits for crowd-funders, such as:
- A percentage return on profits generated
- Disclosure documents showing how crowd-funds are being spent
- In certain cases, a proportional shareholder stake in the company whose creation they funded
Traditional venture capitalists who fund startups often receive all these benefits, and more.
Until this happens, I think crowd-funding will continue to be a source of free venture capital to companies who, as in this case, can make enormous profits from what crowd-funders helped initiate, while going back on their original vision as presented to crowd-funders.Edited by Robertdt - 3/29/14 at 3:11pm