Satisfaction guaranteed? What happens when Kickstarter projects don't deliver.By http://profile.typepad.com/1237764140s22740 // August 24, 2012 in Crowdfunding
Here's a good piece of radio journalism from KQED in San Francisco. The reporter, Aarti Shahani, entertains the question: what happens if the project you fund on Kickstarter closes, your money is collected, but the project fails or the promised product is never delivered?
Shahani gets Kickstarter co-founder Yancey Strickler on the record answering that question. He says that, to date, it's a hypothetical proposition: failure has yet to occur. But it's an intriguing question, a sobering one, when applied to the equity crowdfunding context.
By the way, yours truly is heard near the end of the piece, commenting on the equity crowdfunding exemption under the JOBS Act. Thanks to the friend in the Bay Area who heard the broadcast and pinged me to let me know!