|
Post by edwardsutorik on Feb 24, 2020 17:03:48 GMT -8
It is interesting to note that, had the funding goal been reached, there was NO guarantee you'd ever get a car. Or even, if you did, the car would be worth a damn. Or, of course, your money back, as it would have been spent. Look, I don't know Randy other than to say I am aware that he worked for/with True Line Trains in the past prior to the owner running into cash flow problems. Neither do I. Yes, and I mentioned several. Investors should be informed of their risks. More often than not? Nowhere near! The following article cites 13% for fully funding at IndieGoGo. And that leaves out asking if it was a success for the person putting money in. You know, as in "no product". www.entrepreneur.com/article/269663Ed
|
|
|
Post by mdvle on Feb 24, 2020 19:03:05 GMT -8
Yet despite that IndieGoGo and Kickstarter have both been successfully operating for over 10 years now, and a lot of products have been delivered that otherwise would be unlikely to get the funding required to turn them into an actual physical product. So it does more often that not work out successfully for both the promoter and the person putting money in. More often than not? Nowhere near! The following article cites 13% for fully funding at IndieGoGo. And that leaves out asking if it was a success for the person putting money in. You know, as in "no product". www.entrepreneur.com/article/269663It's always fun when someone decides to change the context of a post to suit an agenda.
I wasn't claiming, as you seem to want to believe, that the majority of projects get funded.
You were raising the risk of a fully funded project not delivering on what was promised, to which I pointed out that 10 years of existence seems to point out that this isn't a major problem. Is it a risk? Yes, but if it was happening on a significant percentage of fully funded projects then these crowd funding websites would be out of business.
Everyone can likely find an example of a funded project that didn't deliver - because it does happen and often is spectacular enough to create sensationalist headlines which news sites like. But it doesn't change that these sites for the most part deliver what the claim to deliver because otherwise they wouldn't have lasted 10 years.
|
|
|
Post by edwardsutorik on Feb 24, 2020 21:19:42 GMT -8
I seem to have struck a nerve with what appears to be a new member of the forum.
I think it's swell that you're loyal and enthusiastic about this project.
But I think it unfair to gloss over problems with assurances that everything will be OK.
Ed
|
|
|
Post by Colin 't Hart on Feb 24, 2020 23:34:58 GMT -8
|
|
|
Post by westerntrains on Feb 25, 2020 6:29:59 GMT -8
If a potential manufacture doesn't have the faith to put their money to bring a model to compeletion, hard to imagine the modeling collective has faith. Maybe kikstarter and gofundme just isn't right for USA model railroaders.
|
|
|
Post by edwardsutorik on Feb 25, 2020 7:23:44 GMT -8
Strange thing. This project had a 30 day funding period. It was first mentioned on the Steam Era Freight Car list on December 31 of last year. It was first announced on this forum on January 17.
The funding attempt is still going (14 days left, it says).
Say, did you notice that IndieGoGo gets the investors money right away, when they pledge? And, if the project turns out not to fly, doesn't give it back until the funding period is over (plus 5-7 more days*). Whatever do you think IndieGoGo is doing with that money? Staying in business for 10 years comes to mind.
Ed
*In this day of giga-speed, it is indeed amazing that it would take FIVE whole days for a couple of computers to transfer funds from IndieGoGo to you. Especially since it probably didn't take FIVE whole days to take it out of your account.
|
|
|
Post by valenciajim on Mar 3, 2020 15:16:07 GMT -8
The concerns expressed are valid. We'll see how this turns out. They still have only reached 8% of their goal with 6 days left.
|
|
|
Post by valenciajim on Mar 10, 2020 21:14:16 GMT -8
I see they did not reach their goal and the money will be refunded in 5 to 7 business days. I hope they figure out another way to make those cars.
|
|
|
Post by mopac101 on Mar 13, 2020 9:05:32 GMT -8
As one who put money into their Kick Starter campaign I felt it was worth the effort. While I only invested $80, and if the fund raising was successful and the company wasn't able to produce, no big deal. It's only $80 and the cars would have been nice.
|
|
|
Post by valenciajim on Mar 17, 2020 11:30:16 GMT -8
I received my refund yesterday. I might add that the refund was paid quicker than the refunds I am owed for conferences that were cancelled due to the Coronavirus and related hotel registration.
|
|