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Crowdfunding – Module 4, G2 member, make high goals, how come up with the…

- - - - Food/fashion
    - - Music
    - - Film
  - - - Increase the possibility of crowdfunding
  - - - Using patents, trade secrets, and copyrights to make sure that your idea is protected
        
        Copyright
        
        Comics/music
        
        Secret
        
        Technology
        
        Patent
        
        Design
- - - - project
        
        one simple interaction
        
        chips pre-tuned to the station that you listen to
        
        electronics class that MIT was offering
        
        alternative for a tote bag
        
        shipped about 2,500 at all
        
        a single station FM radio
        
        with Spencer
    - - reached people
        
        gauge a general price $25,00
        
        get 500 backers to support
    - - beta test on the street
      - friends and family
      - Canadian public broadcasting interview
        
        sharing openly the process of how they were making project
      - has raised $90000
    - - Ball Jar designed producing tool and injection molding
      - southern China / Taiwan / Massachusetts
    - - really understand what's your cost / break-even margin
      - have a sense of the various scenarios
- - - - when they woke up, they typically look at it
        
        Mirror: all-in-one Smart Mirror and Personal Assistant (Three gestures: Smile, Wink and Blink)
        
        access to calendar, reminders, news, weather, traffic - helping your days improved
  - - - Design FB ads, How to segment people
- - - - Small project: little activity or not systematic
      - Big project: more complicated | more subjects
    - - Why the Many Are Smarter Than the Few
    - - The psychology of crowds, mass mania,
        and the Ponzi scheme
    - - 30 experienced experts
        vs.
        Kickstarter Backers
        
        Agreement ~ 60%
        
        More successful, more agreement
        
        75% in cases of disagreement
        
        The crowd is willing to fund projects the experts are not
        
        All of projects - both experts & crowd agreed were successful
        
        experts are good at minimizing risk
        crowd is good at picking high success projects
        
        A few of projects - crowd liked
        were not successful, but more hits
  - - - with enough eyes, all bugs are shallow
        
        crowd can easily spot potential frauds
    - - Crowdfunding platforms
        willing to shut down fraudulent projects?
      - Enough eyeballs?
        
        small equity crowdfunding platforms
      - Enough diversity?
- - - - Kickstarter Funders
        
        Age-39 | Married-50% | Minority-17%
      - Kickstarter Creators
        
        Unemployed-4%
        Fulltime-39% | Freelance-19% | Entrepreneur-12%
        Self-employed-14% | Student 10%
      - Overall
        
        Women more likely to create online crowfunding projects than man
      - Other researches
        
        Women tend to do much worse
        in raising funds than men
      - For Creators
        
        Success or failure does not depend on demographics
        
        About getting funding
        
        2-6% of 35% women business invest
        in venture projects
        
        Same project - a women is 13% more likely to be funded than men.
        
        Women are doing better in the categories where there are fewest women backing them
  - - - The creator is man
        
        supported by non-activist groups
      - The creator is women
        
        supported by activist groups