Internet Scam Alert: Most “Kickstarter” Projects Just Useless Crap (via @theOnion)

Sadly, at times, this is the truth. Kickstarter has a tendency to remove risk from the process of business, and that encourages people to do projects half-assed.

In the end, I suspect Kickstarter will implode. After getting burned enough times, people will contribute only to projects put forth by well-established companies. This might turn out to be just as tragic. First, I’d like to see Kickstarter be used as a way for the new guy with no funds to be given his shot. Unfortunately, there’s no way to distinguish those guys from the people who just don’t want to spend their own money and aren’t really in need of that break, so that’s a pipe dream. Second, it’s unethical for large, well-established companies to take start-up capital from people who aren’t given an ownership interest in the company, and it’s just as unethical for small, well-established companies to do the same unless the backers are given very good value for their contributions. (I won’t call them investments unless an ownership interest is attached.) Unless Kickstarter starts enforcing these rules, this is also a pipe dream.

Kickstarter should start scrutinizing which projects it allows. Until they start, I won’t give them another look.

Follow me on Twitter @GSLLC

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