Sunday, March 20, 2016

S8 Crowdfunding

Raising money for a Project  

Crowdfunding has changed the way innovators can bring their products to the public by appealing directly to the public for funding. No longer do creators need to beg to huge corporations to fund and back their project. Anyone with an idea has the opportunity to make it a reality.

Kickstarter Tech

Use these ^ links to find technology projects 

1. List your favorite 2 projects with a comment why you liked it. 

2. Now what do you think that inventor would have had to do to get their product to the public before crowdfunding?




Use these ^ links to answer these questions: 

3. What are the benefits to crowdfunding? Any disadvantages? 

4. Should companies like Kickstarter or Indiegogo take percentages of profits from projects on their sites? Why or Why Not?

5. Lastly give your opinion on crowdfunding and its impact on technology. Does it free inventors to use their full creative potential or does it only offer a medium for people to promote stupid projects? (Think Potato Salad Project...if you don't know about this look it up...pretty funny).

33 comments:

  1. 1) I liked the portable 3D scanner because it would allow the average Joe to create 3D digital models of the things that they love so that they can build off of the designs of household objects. I also enjoyed the AA voltage booster which could be used with the Arduino project that we are making by providing a power source that could go with it rather than having to have the project plugged into the wall and stationary.

    2) The inventor would have to pitch the idea to corporations for funding and then have their patent or ideas taken by the company because they are the ones that made it happen.

    3) The benefits of crowdfunding is the ability for the creator to get feedback of their ideas and amass the funding quickly for their project. The people who donate are also sometimes able to get a free copy of the concept or other benefits for their donations. The disadvantage in my opinion is the probability that the project will never happen due to lack of motivation in the creator or personal matters with the creator might get in the way. However, even with this aspect, I am sure that the creator gives back the donations if the project doesn't reach its goal or never happens.

    4) Kickstarter or Indiegogo definitely COULD take a percentage of the profits, but they decided not to do that when they were created. Their incentive to not do this would be a backlash from its users as it would be no different than pitching the idea to a company. These sites would lose popularity if they were to decide to do that today.

    5) I think that it does free up inventors to use their full potential as it takes the stress and disadvantages of pitching to companies off of their shoulders. Sure there are some stupid projects but they don't happen because they lack the funding, only projects that people actually want to see really get funded.

    ReplyDelete
  2. 1. Enflux Smart Clothing and BANKROLL, BANKROLL has an interesting to holding money in a way because the wallet is big and flat and many robbers know what a wallet look like but when you have the BankRoll some people think it would be a flashlight and not a wallet. On wallets you can’t hang them on your car keys and this is not a wallet but bankroll you can say this this is not a wallet. Enflux Smart Clothing is great because this technology has many simple ways to be better than many fitbits in the world because the Enflux Smart Clothing would be all around your body than have a fitbit on your arm .The Enflux Smart Clothing would show how well you are improving In what every exercise you are doing .

    2. I would say they would need to show it out to the public to see , would it be worth to buy for them selfe or to a family member .

    3. It can be a fast way to raise finance with no upfront fees pitching a project or business through the online platform can be a valuable form of marketing and result in media attention
    sharing your idea, you can often get feedback and expert guidance on how to improve it or see if people who what donate to the project and get something out of it and see people's reaction to whatever the project is and help promote that idea. Disadvantages is when that if that project didn’t reach their goal that project people would not get the money or anything from it.

    4. No because Kickstarter or Indiegogo didn’t think of the invention that many people think of and they didn’t help out in any way possible no they shouldn't get a percentages of profits from projects.

    5 .It’s half n half with using full creative potential to medium creative potential because people will be lazy or work hard for what they it's how you see it and what you think of that invention to you or someone else's.

    ReplyDelete
  3. This comment has been removed by the author.

    ReplyDelete
  4. 1. The Mars speaker by Allen Zhang is a magnetic, levitating speaker that has a 360 radius, so there is no bad spot while listening to music on it, my other choice is the Phazon wireless earbuds by Chris Houle, they are two small earbuds that are one size fits all, that you put into your ears, it connects wirelessly and is water resistant, so you can do almost any sport with them, including swimming. (I know I know there both music, but I like music, like alot)

    2. They would have to get a good amount of money and get it known before they put it on indiegogo

    3.Crowd funding is a good way for people to get what they WANT to have, as a product that not many people want, it will not be funded, and yes there are disadvantages, such as people doing stupid things on there and wasting everyone's time.

    4. I do believe so, the people would not be funded if Indiegogo or Kickstarter didnt exist, so i believe they should get some of the profit.

    5. I believe it is both, i saw some impressive technology on here, but I also saw a kid that made a post that said "want gaming pc but too poor pls help" and that is the disadvantage to it, people waste other peoples time on it.

    ReplyDelete
  5. 1. I really liked the VM-Rigid Wall Mounted PC Computer Case and the The Bel-Air Browser. I like the Bel-Air Browser a lot because it is basically an incognito browser with it’s own anti-virus. This is good because most people accidentally download viruses and then have to buy a new computer. I like the PC wall mount because sometimes it is hard to move a PC if you need to. It is also sometimes hard to find places to put it. Well, with the wall mount, it’s on the wall! In my opinion, the wall mount can also possibly help a lot with wire management because it is going up and not criss-cross-applesauce.

    2. I think what most people would need to do, is to first ask people they know to see if it is a good idea to invent. If they get positive feedback, put it up on a place like kickstarter. If it gets negative feedback, keep it for yourself.

    3. Some pros are that it is a fast and easy way to get a project funded. It is also a good way to see how the public reacts to it. Some cons are the fact that if you haven’t copyrighted your product, someone else might copy it and do it themselves.

    4. I think that those sites should, but only if it is necessary. For example, when something needs let’s say, $750, sites like those should not take percentages because it is a small amount compared to some other sites. But, if it needs somewhere around a million dollars, then they should get some percentages of the earnings.

    5. I think that crowdfunding gives a huge impact on technology and anyone should be allowed to use it. I did look up the Potato Salad Project and it was actually more common than funny. It was really just someone who wanted money to publish a cookbook.

    ReplyDelete
  6. This comment has been removed by the author.

    ReplyDelete
  7. 1) Mighty seems like a project I might even contribute to as it is like a iPod Nano but for streaming music without a phone. That seems absolutely amazing as this would revolutionize the way people listen to music while being active. A smaller device would be much better than the big, heavy phones that we have in this day and age. For some reason, people want bigger phones, making it more difficult to use them to listen to music while exercising or hiking or any other activity. It seems like a great device. Another device I thought was clever was Pins Collective. All it does is make digital pins that are completely customizable. I think this would be a cool way to express yourself and your interests. While driving the pin business a little dry, it would be a cool way to buy a single pin that could represent much more. While not the most innovative or useful device, all these people need is a device that appeals to people and this one sure does.

    2) Before public crowdfunding, there are only a couple way to get the needed money for their project. One way is to go to a bank and get a business loan which puts an interest rate on their investment. This means that if they don’t profit from this business, they could be in debt which is not great. Another option would be to borrow from family members which adds a layer of passive-aggressiveness if they don’t get paid back. This idea of probable family breakdown pushes the idea of family loans out of the picture. Finally, finding investors would be another option. This can also be an issue as they will want to have part of your business to make the investment worth it. Once again, losing money can be a huge problem in this that may cause issues with the investors. Regardless, crowdfunding has open a whole new realm of possibility for people with an idea and work ethic.

    3) I think the main benefit of crowdfunding is the fact that your investors can be literally anyone. Despite a lack of expertise, having a dollar donated here and there from many different people can allow you to raise tons of money. Another amazing part is the type based on rewards. Instead of selling away parts of the company, you can instead offer gifts for different amounts of money. While you can still get shareholders through crowdfunding, the more traditional crowdfunding allows you to raise tons of money while keeping 100% of the company equity. Like anything, there are disadvantages to crowdfunding. One part of this is the fact that if you don’t meet the goal, the money usually goes back to the investors. Because of this, you can’t even scale down your plan to use the money you have. The money goes back and you wasted a good amount of time to get nothing.

    4) I think that crowdfunding websites should take a portion of the money. They are placing these projects on their website which is maintained by them. Just like paying someone rent to live somewhere, the project’s place on the page is valuable and should be paid for. Whether it should be a percent of the money raised or a flat rate, I don’t know. However, people should pay an amount for the real estate space on the Kickstarter or Indiegogo.

    5) I think these websites are incredible as they give people the ability to have a great idea and be able to implement it despite their inability to speak publicly or think on the spot. Even if these “dumb” projects exist on these websites, how dumb they are can only be determined by your own perspective. The 6,911 people that invested in the Potato Salad Project didn’t think of this as a dumb idea and even if they did, it gave them a good laugh to receive the gifts promised at the various level. There are useful ideas like the ones I described above that may have stayed an idea rather than had the chance to become reality.

    ReplyDelete
  8. 1.) The 3D Printable Wind Turbine seems to be one of the more interesting ones, as it would allow people to generate a little more energy for themselves at nearly little or even no cost, and it could even be changed to be a water turbine, if one desires. Another one that looks rather interesting is the Badjo Suit, which is essentially an exoskeletal suit that can be designed in numerous different ways, which would include actual useful things like having it be equipped with firefighting modifications or just for such things like cosplay. The main reason why that caught my eye was because I’ve always been obsessed with exosuit type things for a really long time and, while those suits look a little clunky, it still seems like it would be nice. Would love to make a bit of Mandalorian armor out of something like that, or even Revan’s armor from it.
    2.) There are numerous different things that one would have had to do I’d imagine, as without the basic guides that a crowdfunding source gives, a person might be a little confused on how to get an idea out. One idea that comes to mind would be to just put an idea on some website to see what people would think, although with that it would probably be rather easy to steal ideas from a person and such.
    3.) One of the main benefits to crowdfunding would be the fast way to get the money for the project, and it can also build up a positive reputation for yourself and people involved in making the product, if it goes well. One the other side, however, if the project fails, then the money will be returned to those invested and you ultimately end up with nothing, and it would also really damage your reputation instead of building it, which would make further attempted projects more difficult to fund. There is also the fact that it would be possible to steal ideas from the medium used to get funding.
    4.) I feel like the actual site used to get the product out there shouldn’t actually get a percentage, unless the person who started the project wanted to actually give a bit to them, but I also feel that they should maybe get some part of it, at least for credit purposes, as without them the product may never have gotten off the ground.
    5.) Crowdfunding sites really do make it easier for a person to get any possible inventions they have out, and they wouldn’t have that much trouble other than to copyright or patent it so it doesn’t get stolen by other people. All in all it really has made an enormous difference in tech today, as more of people’s ideas get out, the more other people may be inspired to do something in their own, basically creating a positive spiral of ideas and creativity.

    ReplyDelete
  9. 1.OSSIC X: The first 3D audio headphones I like it because this headed phones sound like they're in a theater. SOUNDBOKS: The Loudest Battery-Powered Speaker you can bring the speaker without have to plug it in the wall

    2.I think that they should have advertising on websites and TV ads

    3.The benefits it is a good way to test the public’s reaction to your product/idea if people are up to invest it is a good sign that the your idea could work well in the markets. The disadvantages building up interest before it launches

    4.Yes because the website that helps the person that made the product can take a little bit of the money so if their using their websites to spread what they are selling

    5.I think that it give inventors the freedom of creativity to sell their product

    ReplyDelete
  10. 1. From what I’ve seen, my faverits are the GPD WIN Intel Z8550 Win 10 OS Game Console, and the father.io: Massive Multiplayer Laser Tag. The first one is a handheld gaming device, but the twist is that it's a pc gaming laptop. I love the idea of having a 5.5 inch laptop I can bring anywhere and play real pc games anytime. The second project is a portable device for your phone, thats is a real life fps laser tag game, who wouldn't want that?

    2. Well, both would have to go find some kind of toy or electronic entertainment company to pitch to. Then they would have to make it so the company would actually want to risk funding it.

    3. The advantages to crowd funding is the ability to get any project to the attention of the public and the chance to be funded without having to sell there souls to the company there trying to get funds from. Its also faster then most funding methods. The disadvantage is the amount of trust you need to give the creator, because there are several ways they can screw you over and out of your money.

    4. I feel like the best way would to charge a minor fee for putting up a campaign on the site, so there is at least so drive to not just put anything on the site.

    5. I think crowdfunding is a great thing in this ever evolving time of technology, it allows innovators to invent and develop new product that would never be able to come out on their owns.

    ReplyDelete
  11. 1. KYON - A new technologically advanced pet collar. It allows you to keep track of your pet’s location, temperature, and even health through an app. The location is on a 3-point GPS system meaning that it can even identify what floor your pet is on. It can also use a high frequency sound to prevent barking and potential dog fights. This is the ultimate way to stay connected to your dog. As a pet owner, this collar would make me feel much more secure about leaving my puppies at home.
    GLOAID - These are self-charging systems of emergency lights. These could be used in cases of power outages, fires, or simply for navigation through a home that wishes to conserve electricity. What amazed me most about this product is the fact that it only takes minutes to charge. Similar glow-in-the-dark technologies on the market take at least an hour to charge, usually more.

    2. Crowdfunding allows inventors to present a concept in order to gain funding. Before this was an option, inventors would have to make a proof of concept, or a working prototype before they could ever even consider acquiring funding. The inventor would also likely have to approach various companies in the hope that they will sponsor the project. In doing this, the inventor is potentially giving up a portion of his creative license, or even his business.

    3. It is certainly a much faster medium to acquire funds. It also interestingly works a lot as a marketing system. People see a cool idea and they share it with their friends. It also creates a limited, but present, customer loyalty to the product being funded. If someone backs a campaign, they are much more likely to purchase it in the future because they have already invested in it. Some of the downfalls are the fact that the inventor has to do all the marketing beforehand, and the fact that a patent is still required. The inventor has to build up significant interest in the product before even beginning to raise money for it. This means that marketing must be done by inexperienced marketers who may end up doing damage to their product. There is also the problem of patenting. An individual may think that all they have to do is place their product online, but if they were to do this, they would be setting up for their idea to be stolen, not successful.

    4. I believe that it is alright for the companies to take a small percentage of the profits made. Without those companies, those products may have never gotten off the ground. In some ways, these companies become like a business partner, or marketing executive for these products.

    5. I believe that it does a little bit of both. There are some great ideas on crowdfunding websites, and others that maybe shouldn’t be funded… But that is the point of companies such as Kickstarter and Indiegogo: they are a medium for ideas. This includes both the good and the, well, dumb. Personally, I believe that the good outweighs the dumb in this case. Just because the dumb projects are there doesn’t mean that people have to fund them. And who knows, sometimes those ideas that begin as dumb jokes can grow into something more worthwhile. Or they can inspire someone else to develop one of the good projects for crowdfunding. I mean, everyone might get some yummy potato salad out of the deal. :)

    ReplyDelete
  12. 1. My favorite current kickstarter projects are the OLO printer, which lets you 3d print with just your phone and the device, which is awesome because it’s a compact 3d printer, and also the Monument which stores and organizes photos for you which interests me because I’m into photography.

    2. Before crowdfunding, the inventors of these projects would have had to find an audience for the project, make them want it, get investors, advertise it, and more to get it off the ground. If the people like it enough on crowdfunding, they can forget all that and just focus on making the product!

    3. The benefits to crowdfunding are that you can get your product to a larger audience much more easily, and it allows you to focus more time into the product itself than into your advertising and things like that. The disadvantages are that everyone are your possible investors so if they don’t invest then you don’t get the money for the project and then you have to start over with marketing it elsewhere, and also, for the people that invest into crowdfunding projects, people can sometimes steal your money if their project gets funded and the product is never made or released.

    4. They should take a small amount of profits, maybe only around 1%. This would be needed to keep the site alive and so they don’t have to put ugly ads on the site. Otherwise, if they didn’t want to take part of the funding for the projects, they could also just charge a small fee to put your project on there.

    5. Crowdfunding both lets creators put their full possibility into the product and it also allows stupid projects to happen. The creators don’t have to advertise it and sell it elsewhere if they have a good project, but also it’s not going to stop stupid products from happening anyway, unless the crowdfunding website’s staff has to approve projects before they can start being funded.

    ReplyDelete
  13. 1. My first favorite is the Triton.It's a device to that helps you breath under water.Reminds me of star wars or an old James Bond movie.My second favorite one is the OLO. I like it because its a portable 3D printer. I have no reason to even own a 3D printer, but I think its still a cool idea. It's only a hundred dollars, and for 3D printers that not a lot.
    2. The inventors of these projects would have to go to major companies that usually mass produce these items and ask them to fund them while putting the companies brand on the items. For an example, like the Triton they could go to a major company that makes diving gear and they could send an example to them and ask if their company could mass produce their product.
    3. The advantages of crowdfunding are no upfront fees, and you could share it all over online to make your idea popular resulting in more money for your project. The disadvantages of crowdfunding is that you may not get as popular as you wanted or not get any money.
    4. Of course companies like kikstarter and indiegogo should get a cut of the money that the owner makes. They are posting there products or products idea on their websites. Why wouldn't they get money?
    5. I think crowdfunding works for some people, but a lot of projects don't get the funding they need or want. A lot of projects are dumb like the ones were people are just asking for money for just them and no one else, like the people on kikstarter who have no projects and are just begging for money.

    ReplyDelete
  14. 1. My first favorite is the Triton.It's a device to that helps you breath under water.Reminds me of star wars or an old James Bond movie.My second favorite one is the OLO. I like it because its a portable 3D printer. I have no reason to even own a 3D printer, but I think its still a cool idea. It's only a hundred dollars, and for 3D printers that not a lot.
    2. The inventors of these projects would have to go to major companies that usually mass produce these items and ask them to fund them while putting the companies brand on the items. For an example, like the Triton they could go to a major company that makes diving gear and they could send an example to them and ask if their company could mass produce their product.
    3. The advantages of crowdfunding are no upfront fees, and you could share it all over online to make your idea popular resulting in more money for your project. The disadvantages of crowdfunding is that you may not get as popular as you wanted or not get any money.
    4. Of course companies like kikstarter and indiegogo should get a cut of the money that the owner makes. They are posting there products or products idea on their websites. Why wouldn't they get money?
    5. I think crowdfunding works for some people, but a lot of projects don't get the funding they need or want. A lot of projects are dumb like the ones were people are just asking for money for just them and no one else, like the people on kikstarter who have no projects and are just begging for money.

    ReplyDelete
  15. 1. The 2 projects I liked the most were the SpeedX Leopard and the Ossic X. I liked the SpeedX Leopard because I love riding bikes and it had the idea of adding a computer to a bike to navigate locations to ride to. This bike was also capable of marathoning. I liked the Ossic X because it had the concept of being the first 3D audio headset. The Ossic X instantly calibrates to the listener, increasing the sense of auditory space, and recreating the way you hear the world everyday.

    2. The inventor has to start showcasing his invention to people and prove to them that this works, if this was an idea and it wasn't created yet then he's doing fine by sharing it with the public as an idea to raise money and make his idea an reality.

    3. Some of the advantages of Crowdfunding are that if you have a good idea, or generally a good idea you can raise money extremely quickly through this process. Explaining your idea to people over the internet can gain publicity for your business very quickly. Some of the disadvantages of Crowdfunding are that its still going to be a longer process making the idea an reality even after raising all of the money for it, plus if you can't manage to get your idea out, the people that invested into your project will be extremely disappointed that something they saw that had potential couldn't come true.

    4. I feel as if the companies that are sponsoring ideas that are raising such funds for these projects shouldn't get money directly from other peoples funds. Although there websites are the reason ideas can become big, these companies have enough money just from people being on there website. If kickstart and Indiegogo want money for sponsoring ideas like these they should ask for donations directly to the company. Taking money from others ideas wouldn't be the best idea on there part, they wouldn't be respected and it would be considering scamming. Imagine if you donated $2,000 to a new hoverboard idea and your money went directly to kickstart or indiegogo instead of the idea you wanted to invest in.

    5. I feel as if Crowdfunding can largely benefit inventors ideas through technology. The act of promoting small ideas through such an easy way can really make inventors ideas big and possibly become a reality. I feel as if Crowdfunding has a potential to become something big throughout all of technology, but it all depends on how things go throughout kickstart and indiegogo, as well as the people being funded for there projects and if they can make there project a reality.

    ReplyDelete
  16. 1. YOUMA - The smart modular power strip
    ISTAND - Magnetic charger

    2. They would have had to invent the product first, Then they would have had to put it on Kickstart.

    3. Crowdfunding can receive rewards through the traditional way of it. The start up of a business should consist of yourself and how others can help. Which is exactly crowdfunding. But still is a great idea.

    4. I think that it would be a good idea to take percentages from project starters so that both sides makes the money. (ooohhhhh money money money money).

    5. Crowdfunding would be a lot easier if people would be friendlier and say that would live up to what they said.

    ReplyDelete
  17. 1. I surprisingly liked the FlipFlic, I know it’s weird that I would like a device that makes window blinds smart, but there’s a good reason for this. I rarely ever use the lights in my room and I’m always using the blinds for light. So this would be perfect since it would be able to handle my blinds for me without me doing anything. Also another project I thought was cool was the Codeybot. The reasoning behind this is I believe that we are going to be needing coding more and more in the future and it would be nice to have something that could teach people how to code in a fun and easy way.

    2. Maybe the inventor advertised it somewhere, maybe on a social media site like twitch, Facebook, or YouTube. It’s also possible he caught the attention of a news agency or something similar and was able spread the word about it and make a good outcome from it.

    3. With crowdfunding you can get money extremely quickly if the people who see your project are interested in it and like how it is looking. Maybe they like the features you said it will include, also it is good to use this to see if people even will like your product by how many will fund it. Though one issue could be the person doing the project is actually trying to scam all these people for the money and not actually creating the device. Plus if people aren’t interested in your project no one will try and fund it since they don’t really like it.

    4. I think they shouldn’t be able to take a percentage of someone’s funds since those are from the person funding it to the inventor. Though I believe the companies should be rewarded somehow, like the people being funded could give an amount to the company after they have been finally funded and have real profits.

    5. I actually like crowdfunding projects as long as they are improving existing and non-existing technology. Though I do not believe that dumb projects should be even allowed to be crowdfunded. There should only be projects that could actually make something happen in the world or maybe be able to sell well.

    ReplyDelete
  18. 1) I liked the TRINUS - The Affordable All-Metal 3D Printer and Ossic X. I think Trinus is pretty cool as everyone like 3D printing, but this can be used with plastic, wood, aluminum and many more. While I like Ossic X headphones because it gives you the feeling of the presence of the singer if you are listening to songs, its the worlds first 3D audio headphone as sounds is pretty crucial in gaming.

    2) The inventors should have an ample amount of stock, and they should create the commercial and put it on Youtube, or advertise it in newspaper and they should also create their business website.

    3) Crowdfunding gives new innovators chance to prove their products and fund them, and it also advertises it so thats good. But disadvantages are if you dont reach your goal in set amount of time then all the investors gets their money back.

    4) No they shouldnt take any percentages from their profits as if they dont take any percentage, that would give more innovators the money to develop a new idea/ create another product.

    5) Crowdfunding helps new inventors to bring their idea to life, and backers help them by pledging some money. I saw the potato salad project it was a little internet joke by the host. but he is giving all that raised money to hunger charity. So overall he is helping the society.

    ReplyDelete
  19. 1. The NiftyX was my favorite by far, because it was a charging cord with an emergency power source all in the form of a bracelet. The View was also an interesting one because it was a portable projector with high quality visuals.

    2. Getting sponsored by an investor is the most effective way to get your product out on the market.

    3. Crowdfunding funds your product more effectively that traditional means, and earns you loyal customers right off the bat. The bad part is that you have to really gleam up your product to get people interested.

    4. Considering that you are selling your product on their website, I do think that those hosting companies should take a part of the profits. You can implement that by adding that cost to the total funding amount.

    5. I think crowdfunding a great idea and the easiest way to sell your product. I have absolutely no problems with it other than the fact that people can steal your idea and make it better with all of the information you can get from these inventors.

    ReplyDelete
  20. 1. There was a speaker called the 'A' Speaker that focused sound like a laser, so that only people in the way of the beam were hit. There was also a device called the OLO which was a 3D printer that was small, portable, and worked with smartphones.

    2. A person would've had to either be very rich, or impress and investor, who would only put support on a project that would guarantee money back instead of something new or innovative. By having the people vote and donate to what they want invented, more innovation can grow.

    3. With crowdfunding, people can support and help create what they want, instead of what executives want. This results in more art, more risks, and ultimately more growth. However, the products and projects that people want or need may not become seen, as every crowd-funded project is constantly vying for attention, and not get funded despite severe interest in the few that notice. To get popular, a crowdfunded project would need not only advertising through social media, but likely a sponsor as well, falling into the same problem traditional funding had. The few projects that have become popular by themselves, however, could never have found a backer otherwise.

    4. If Indiegogo or Kickstarter took partial profits, people would be less likely to donate or post projects. Instead, they should start their own crowdfunded strategy, and put it on the website like Wikipedia has done. This thematic tying fits the site, and it has already been proven again and again that people are willing to pay for a product or project through a website.

    5. There is a bit of both good and bad projects getting funded. I believe that the good helps outweigh the bad, as well-crafted yet financially-failing cancelled television shows can return to the spotlight, weird games too off-beat for a mainstream audience can be sold and played with, and bizarre innovations can be delivered to the people who are eagerly anticipating its release. While there will always be those who want to abuse the system for personal gain, most will not get funded, and the few that sucked will make an interesting story. Even the potato salad project helped a lot of starving people. If companies like Kickstarter could deny a project for being too "stupid" or "weird", that would destroy the point of crowdfunding.

    ReplyDelete
  21. 1.) One crowd funding project i liked a lot was KYON - A new technologically advanced pet collar. It allows you to keep track of your pet’s location, temperature, and even health through an app. The location is on a 3-point GPS system meaning that it can even identify what floor your pet is on. It can also use a high frequency sound to prevent barking and potential dog fights. This is the ultimate way to stay connected to your dog. As a pet owner, this collar would make me feel much more secure about leaving my puppies at home.
    Another one I thought was really cool was GLOAID - Self-charging systems of emergency lights. These could be used in cases of power outages, fires, or simply for navigation through a home that wishes to conserve electricity. What amazed me most about this product is the fact that it only takes minutes to charge. Similar glow-in-the-dark technologies on the market take at least an hour to charge, usually more.
    2.) Crowdfunding allows inventors to present a concept in order to gain funding. Before this was an option, inventors would have to make a proof of concept, or a working prototype before they could ever even consider acquiring funding. The inventor would also likely have to approach various companies in the hope that they will sponsor the project. In doing this, the inventor is potentially giving up a portion of his creative license, or even his business.
    3.) It is certainly a much faster medium to acquire funds. It also interestingly works a lot as a marketing system. People see a cool idea and they share it with their friends. It also creates a limited, but present, customer loyalty to the product being funded. If someone backs a campaign, they are much more likely to purchase it in the future because they have already invested in it. Some of the downfalls are the fact that the inventor has to do all the marketing beforehand, and the fact that a patent is still required. The inventor has to build up significant interest in the product before even beginning to raise money for it. This means that marketing must be done by inexperienced marketers who may end up doing damage to their product. There is also the problem of patenting. An individual may think that all they have to do is place their product online, but if they were to do this, they would be setting up for their idea to be stolen, not successful.
    4.) I believe that it is alright for the companies to take a small percentage of the profits made. Without those companies, those products may have never gotten off the ground. In some ways, these companies become like a business partner, or marketing executive for these products.
    5.) I believe that it does a little bit of both. There are some great ideas on crowdfunding websites, and others that maybe shouldn’t be funded… But that is the point of companies such as Kickstarter and Indiegogo: they are a medium for ideas. This includes both the good and the, well, dumb. Personally, I believe that the good outweighs the dumb in this case. Just because the dumb projects are there doesn’t mean that people have to fund them. And who knows, sometimes those ideas that begin as dumb jokes can grow into something more worthwhile. Or they can inspire someone else to develop one of the good projects for crowdfunding. I mean, everyone might get some yummy potato salad out of the deal.

    ReplyDelete
  22. 1.) i like the idea of the L.E.D kits and Wasp-clear
    1a.) the led kits are for a great light show but would be really bad for like the strings would get stuck and wrapped around but it would look nice at night.
    1b.)the Wasp Clear, I absolutely ate wasps they're stingy meanie thingies.
    2.) So most ideas of things are really helpful to not helpful, i want to invent something you don't expect you needed. I think a good idea for something is convenient but if i needed it to the world is to immediately find one in the issue and say isn't [inset great and convenient idea here] and start plaguing it then show off the idea for kick starter.
    3.) see the benefits to crowd funding is that you get paid to create a world helping problem but people also create bad ideas so that they can get money, but if they don't they are in-debt to the people that invested with them.
    4.) All honesty companies that take money percentages from kick starters and gofundme should only do it from those that actually profit just a little bit of money since thanks to them they are famous or stupid rich
    5.)Like i said in the last part people get to show their helpful ideas to the world that help others and makes life easier but then are the dumb asses with the “GLOW IN THE DARK COMPUTER MONITOR“ it's so stupid that people sometimes get money for stupidity and it works so it may be helpful but some moderators may need to be established.

    ReplyDelete
  23. 1.) i like the idea of the L.E.D kits and Wasp-clear
    1a.) the led kits are for a great light show but would be really bad for like the strings would get stuck and wrapped around but it would look nice at night.
    1b.)the Wasp Clear, I absolutely ate wasps they're stingy meanie thingies.
    2.) So most ideas of things are really helpful to not helpful, i want to invent something you don't expect you needed. I think a good idea for something is convenient but if i needed it to the world is to immediately find one in the issue and say isn't [inset great and convenient idea here] and start plaguing it then show off the idea for kick starter.
    3.) see the benefits to crowd funding is that you get paid to create a world helping problem but people also create bad ideas so that they can get money, but if they don't they are in-debt to the people that invested with them.
    4.) All honesty companies that take money percentages from kick starters and gofundme should only do it from those that actually profit just a little bit of money since thanks to them they are famous or stupid rich
    5.)Like i said in the last part people get to show their helpful ideas to the world that help others and makes life easier but then are the dumb asses with the “GLOW IN THE DARK COMPUTER MONITOR“ it's so stupid that people sometimes get money for stupidity and it works so it may be helpful but some moderators may need to be established.

    ReplyDelete
  24. 1. The opto virtual reality goggles and the Air case where my 2 favorite creations because the Opto shows a virtual world in your living room and the case doubles your phone's battery life.

    2. The inventor would probably have to show people that his invention is worth buying and that any investments would really turn into a profit.

    3. The benefits of crowdfunding are: you can get enough money to produce more of your product or perfect it to sell it. The disadvantage is that everyone who is funded may not sell their product and people would just lose money.

    4. They should not take profits from others because it was not their inventions.

    ReplyDelete
  25. 1. My favorite two projects were the RippleBuds and the LiftUp. I really like these two products for different reasons. The RippleBuds look amazing because I love music. I am often listening to music in the background of whatever I am doing. Being able to have wireless earphones that cancel outside noise is so helpful for listening to music. Also, the fact that they are wireless is enjoyable because there is no annoying cord to get in the way and get all tangled up. I liked the LiftUp because I have always wanted to get in shape, but going somewhere to do so is so inconvenient to me. I do not have that much free time where I could go to a gym everyday. Sure, there are similar products for at home gyms. However, LiftUp is affordable and it tracks progress, which is always nice to be able to see.

    2. Before crowdfunding, the inventors of each product would have first had to gather the money they need to create prototypes and a final product. Then, they would have to get more money so they could start creating tons of the products. The problem with this is that it can be hard to gather money. People are not just willing to give away their money with no product being given in return. They would like something in return, and there was no real way to make sure that the people giving the money would receive any kind of benefit. With crowdfunding, it is made so much easier to get payments ahead of time to be able to develop and produce the product, while the backers know what they will be getting for sure. Also, without crowdfunding, it is so much harder to get the inventions out to thousands of people. There have to be ad campaigns just to make sure that people know that the item exists, and ads do not always work. With crowdfunding sites, people are actively searching and finding these new items with the intent of finding new stuff to help with and purchase.

    3. The benefits of crowdfunding is that it gives inventors a way to get funding for their projects, so that they can develop the actual items. Also, using crowdfunding can give the creators a way to get their objects out and have actual attention for them. Thousands of people will know of the product before it is even out. One last benefit is that the inventors can get feedback from thousands of customers, which can help the inventors fix problems that people have with the product. Some disadvantages are that if the project does not get funded, then the inventor will not get anything and will have wasted their time, which can be valuable when trying to make a living. Also, the idea that you are using other people’s money causes a lot more pressure to build up to get the product out as fast as possible, which hinders the quality.

    4. Companies like Indiegogo and Kickstarter should not take a percentage of the funds gathered for themselves. This is because based on the product being put up, that could take away thousands of dollars from certain inventors who earned that money in order to help their inventions, not the website that it is on. The customers should know that their contribution will actually go to the person they are paying. Instead, the companies should make a set cost that people have to pay to put their product on the site. They should make it based on the overall goal and product, but not based on how much they end up making.

    ReplyDelete
  26. 1. My two favorite projects are
    OLO- The Smartphone 3D Printer- I Find this to be really awesome. The idea of having a small 3d printer that is controlled by a smartphone. With the smaller 3d printer also means its cheaper. That means more people will have access to a 3D Printer.

    Gem-8- I find this just really cool. It is awesome to think of computers that basically fit in your pocket. The Gem-8 is also cool because it is almost a 80s computer. The reason I think its not fully backed is that it is a "80s computer". I just really like the idea of a really small pc that fits in your pocket.

    2. Before crowdfunding inventors had to actually go out and find investors. These investors were manly businesses and they would only invest if they found the idea would give them money. This made it hard for inventors to find investors and to get their idea out for the public.

    3. Yes and no. Companies should make some money as it is only fair. Just like with businesses they take a percentage of the products profits. The only thing is that they shouldn't make huge amounts from one project. I think they should only take 1 to 5 percent. I believe that is fair and won't make people stop using kickstarter or Indiegogo.

    4. I believe crowdfunding has had one of the most positive vibes on technology. It has allow for many innovative ideas to come alive. Crowdfunding does allow inventors to use their full creative potential as they don't have to add something to their idea as most investors ask. Now some bad things do happen with crowdfunding as projects that get funded will just disappear, but I believe that their is more positives then negatives.

    ReplyDelete
  27. 1. My two favorite projects are
    OLO- The Smartphone 3D Printer- I Find this to be really awesome. The idea of having a small 3d printer that is controlled by a smartphone. With the smaller 3d printer also means its cheaper. That means more people will have access to a 3D Printer.

    Gem-8- I find this just really cool. It is awesome to think of computers that basically fit in your pocket. The Gem-8 is also cool because it is almost a 80s computer. The reason I think its not fully backed is that it is a "80s computer". I just really like the idea of a really small pc that fits in your pocket.

    2. Before crowdfunding inventors had to actually go out and find investors. These investors were manly businesses and they would only invest if they found the idea would give them money. This made it hard for inventors to find investors and to get their idea out for the public.

    3. Yes and no. Companies should make some money as it is only fair. Just like with businesses they take a percentage of the products profits. The only thing is that they shouldn't make huge amounts from one project. I think they should only take 1 to 5 percent. I believe that is fair and won't make people stop using kickstarter or Indiegogo.

    4. I believe crowdfunding has had one of the most positive vibes on technology. It has allow for many innovative ideas to come alive. Crowdfunding does allow inventors to use their full creative potential as they don't have to add something to their idea as most investors ask. Now some bad things do happen with crowdfunding as projects that get funded will just disappear, but I believe that their is more positives then negatives.

    ReplyDelete
  28. 1. The two projects I liked the best were the smart mug and the self filling water bottle. This is because these are things that I feel would be really useful. A water bottle that fills from humidity and a mug that doesn't force you to heat up or put in the fridge to reach your desired temperature sound like two very good, useful ideas.
    2. Before crowd funding the inventors of these items probably would have had to go around trying to find people that can distribute news about their idea, or like it and would be willing to help them. It would likely be a very long, effort consuming project.
    3. The benefits of this is it is a very potentially easy way to show the world your idea, get others opinions and help, as well as easily find people who can help you grow your idea. The bad things about it is it can actually take a long time to get people to see or notice your idea, you are prone to copyright, and everyone will know that your business failed when you don't succeed.
    4. I think that companies like Kickstarter and Indiegogo should take some profits from projects on their sites, even if it is .1%, because without their help you would likely have to find harder ways to grow your business, and it may not even work at all, their site might be the thing that made your idea popular.
    5. I think overall crowd funding is a good thing because it is a great way to put great ideas in action, and stupid project ideas don't hurt anything, because they will simply just be ignored and unsuccessful. It is simply a way for people with potential to get what they deserve much quicker.

    ReplyDelete
  29. 1. My favorite project would have to be the VIE SHAIR HeadPhones because it is painless, safer and more social headphone the thing that inspired me is the it’s create pressure and generated heat that’s cool cause not any other headphone’s do that, Pretty smart people. The other thing I like about it cause you get the special flow of music in your ears without any problems plus the model of in is made out of VIE SHAIR 3D molded air frames which looks pretty sick.

    My other favorite project would have to be OLO Smartphone 3D printer because you can select on what picture you want on your Iphone and it would only takes 46 mins in building a 1 cm length project and when I saw this project it’s pretty awesome to see new things that come out and inspired people thoughts on what people invented love it.

    2. My thoughts on the inventor in getting their product out before it’s already in the market. Well I think it gets from ads or looking on the website from the producers on which they sell their product. But I am really not sure on what the inventor gets their product out before crowdfunding.

    3. Well the benefits and disadvantage of crowdfunding would be fast way to able to raise finance with no update fees, pitching a project or business through the online platform can be a valuable form of marketing and result in media attention and it is a good way to test the public’s reaction to your product idea. There could be some disadvantage about it.

    4. I think of kickstarter should put percent of their produce because it lets the people on the website know how much people are buying or review it but I think they should do it.

    5. What I think of Crowdfunding changing the world would have to be making new ideas and selling their produce and inspiring people thoughts and new ideas. But I think Crowdfunding would change the world and make people happy.

    ReplyDelete
  30. 1.) Honestly none of the crowdfunding projects are really striking me. I think its smart to create one for when you lose a family member or something, but most of the time I just see it as a scam or a way to beg for money.

    2.) There's tons of ways to put your product out. There's ways to advertise, present to investors, and talk about your invention before going on crowdfunding.

    3.) Crowdfunding is a good way to get word about your invention and gather money for it. Not sure what disadvantages there are.

    4.) They should take a certain percent of profits because they are providing a platform for these people to become successful. Unless they have a huge amount of companies giving them money to keep the site up, they should be able to take a small cut.

    5.) I think the idea of crowdfunding is really great, and a good way to get technologies and ideas that the people are wanting, but the thing is its lately been used as just a way to scam people out of their money and run away with the cash. It's a great tool, but its being abused.

    ReplyDelete
  31. 1. My favorite two projects were the RippleBuds and the LiftUp. I really like these two products for different reasons. The RippleBuds look amazing because I love music. I am often listening to music in the background of whatever I am doing. Being able to have wireless earphones that cancel outside noise is so helpful for listening to music. Also, the fact that they are wireless is enjoyable because there is no annoying cord to get in the way and get all tangled up. I liked the LiftUp because I have always wanted to get in shape, but going somewhere to do so is so inconvenient to me. I do not have that much free time where I could go to a gym everyday. Sure, there are similar products for at home gyms. However, LiftUp is affordable and it tracks progress, which is always nice to be able to see.

    2. Before crowdfunding, the inventors of each product would have first had to gather the money they need to create prototypes and a final product. Then, they would have to get more money so they could start creating tons of the products. The problem with this is that it can be hard to gather money. People are not just willing to give away their money with no product being given in return. They would like something in return, and there was no real way to make sure that the people giving the money would receive any kind of benefit. With crowdfunding, it is made so much easier to get payments ahead of time to be able to develop and produce the product, while the backers know what they will be getting for sure. Also, without crowdfunding, it is so much harder to get the inventions out to thousands of people. There have to be ad campaigns just to make sure that people know that the item exists, and ads do not always work. With crowdfunding sites, people are actively searching and finding these new items with the intent of finding new stuff to help with and purchase.

    3. The benefits of crowdfunding is that it gives inventors a way to get funding for their projects, so that they can develop the actual items. Also, using crowdfunding can give the creators a way to get their objects out and have actual attention for them. Thousands of people will know of the product before it is even out. One last benefit is that the inventors can get feedback from thousands of customers, which can help the inventors fix problems that people have with the product. Some disadvantages are that if the project does not get funded, then the inventor will not get anything and will have wasted their time, which can be valuable when trying to make a living. Also, the idea that you are using other people’s money causes a lot more pressure to build up to get the product out as fast as possible, which hinders the quality.

    4. Companies like Indiegogo and Kickstarter should not take a percentage of the funds gathered for themselves. This is because based on the product being put up, that could take away thousands of dollars from certain inventors who earned that money in order to help their inventions, not the website that it is on. The customers should know that their contribution will actually go to the person they are paying. Instead, the companies should make a set cost that people have to pay to put their product on the site. They should make it based on the overall goal and product, but not based on how much they end up making.

    ReplyDelete
  32. 1. I checked out "The 10 Most Funded Kickstarter Campaigns Ever," and my two favorite projects on their was Shenmue 3 and Mystery Science Theater 3000. I have heard so much about the Shenmue Franchise but I have never played it, and if this game is going to be released soon I think I'll get a copy of the first two games to catch up. Similar to my thoughts on Shenmue, I have only heard about Mystery Science Theater 3000. But I would certainly like to watch the show because of all the praise I have heard.

    2. For the Shenmue 3 Project I saw some pictures of the what the game would look like, so for the person o launch this Kickstarter they would have to create this pictures and perhaps give some information about the game in order to convince people that this could happen.

    3. I'll compare a crowd funding to a bank load. With a bank loan you are given certain amount of money and you then have a certain amount of time to break even and repay the back that money, with crowd funding you do not have to repay anything, you are simply given money. However I think it would be harder to convince the internet than a bank.

    4. I would not be upset if the creators of crowd funded sites decided to take some of the revenue, It makes sense since the site is helping advertise the projects.

    5. I think crowd funding is an excellent idea. If their is someone with an actually good idea and they can't get a loan, crown funding is the only option. So it will only help produce new and good ideas.

    ReplyDelete
  33. 1. I really thought the motion censored candle was pretty cool. You just have to wave your hand above it and it turns on or off. They say that this would be really nice in the night if you cant see or just like the look of it. You can also set the candle so it is able to stay on for only 25 seconds. The other project I looked at was called "Resus-a-station" which is a module that tells you how to preform CPR. This can be really nice since it can help save lives.

    2. Telling people that you have ways of saving lives with such a simple device can definitely help your popularity. Also the fact that who hasn't ever wanted a candle or a light that turns on based on motion. The only thing is that they would need to make sure it is safe and would't accidental fall over.

    3. Crowdfunding is a very good thing since it doesn't cost you anything. Other people just fund your project if they like the idea and want to see it come to fruition. Of course to something this amazing there is a downside. You must meet the goal that you set or else you lose all of the money. Also you must spend the money you get on only that project.

    4. I think it may be okay for the companies to take a very small amount of profit from creators but it shouldn't be too high because some people raise millions of dollars and that would make the website creators extremely wealthy without them having to do any of the actual work. I would say they should probably take around .8% of what other make.

    5. I think that crowdfunding is a pretty amazing thing. It does give people the option to create anything they wanted as long as others are willing to invest in them. People can get funded by anything so you might as well let them get funded on a website. Its also much more convenient which is always nice.

    ReplyDelete

Humor is great. Always please be appropriate.

On posts where you are asked to state an opinion, thoroughly support your stand. Number your responses!