Whuffie Stream

Whuffie (Longform Blog)
But Kickstarter backers aren’t investors, and they aren’t looking for the project that will give them the greatest return on their money. Kickstarter does not function as a store (as its Web site goes to great pains to remind you), any more than PBS is “selling” you a tote bag in exchange for your donation. Kickstarter as a phenomenon is made much more comprehensible once you realize that it’s not following the logic of the free market; it’s following the logic of the gift.

Why Would You Ever Give Money Through Kickstarter? - NYTimes.com

So true. The marketplace doesn’t understand the phenomenon because Kickstarter isn’t playing by the marketplace economics and incentives.

(via joshuanguyen)

Kickstarter is more of a trust metric, and a social reward for creativity and innovation (Like Whuffie, though it was non monetary). Entrepreneurs commonly mistake crowdsourcing as a macro tool for startup funding (Think Kiva). While it can be that, for creative and innovative concepts, it isn’t that for startups that fall outside of those definitions, to me.

(via joshuanguyen)