Wow, for the first time ever I have to for now retract a recommended cool tech project. Subbe, recommended in yesterday’s blog is under review by Indiegogo. So my apologies, for the first time ever I will have to remove a recommendation. My apologies, that has never happened before.
There is a risk when you start crowdfunding. You as an individual have to determine if the reward outweighs the risk for you. 99% of the time the risk is much less than the reward for me. But again it is a personal choice. I have lost money on campaigns that were more promise than possible. So, evaluate and remember the most famous rule of investing ever, “if it sounds too good to be true…it probably is.”
There are more points of failure on the road to success than there are stars in the heavens. So, always enter the crowd funding relationship with the knowledge that failure is not only an option is can often be the only outcome. Dream big or go home is the applicable reality there.
Fifteen years ago, in the 2000-2006 period, I traveled a lot. All over the world in fact. During that time, I would lug two, three or more batteries with me for my smart phone. But, frequently I would be the ONLY PERSON ON THE PLANE WITH A SMART PHONE. That isn’t the case anymore. But I find it interesting that now you probably want to check the person next to you, not because they are only one on the plane with a smart phone, instead you want to check because they may be carrying a phone that has a potential for catching on fire.
I am kidding (sort of).
I have a really good friend that built a very cool device. We met, because I helped him connect with a manufacturing expert. A person who understand the limits of promise made by companies overseas. But my friend talked to me extensively about the problem he was having in the driver software. He had sent me an early copy of the Apple iOS driver and I was going to install his hardware on my Android Tablet. He said “which tablet do you have.” So I explained that I had the Note. He said, “I mean who made it?” I said Samsung. He said “I haven’t gotten it working on the Samsung yet, will you test it for me.”
Each company that makes an android phone uses a different accelerometer. My friend ended up buying 5 different Android devices and reaching out to another 4 of us to do testing on devices he didn’t own. That makes Android development a little tougher than it needs to be.
Frankly that reminded me of my past life. When you had to have builds of software for different hardware. Cloud Computing takes a chunk of that away. Except that dependent upon your Cloud Service provider you may have different drivers for each VM. Unloading all the drivers in a VM, and then moving the VM, and then reloading all the drivers in a new system does present some level of risk.
This is not me attacking Android devices. I own one, and a ChromeOS device. Mostly because you have to understand that devices operate uniquely and how they operate is not just determined by the hardware, but also by the user.
Because I suffered a failure yesterday (sharing a project that ended up being shut down) I am focusing on the reality of failure today. So, one last time, Crowdfunding is in fact a risk. You are finding a solution that may be an improvement of something that exists. In that case it is likely to be successful quickly. The first time I backed Pebble Smart watches they were a little late. The second time, not late at all. The same is not true of many other projects that I have waited for. There are some projects that are two, three and even nearly 3.5 years late.
The Sue birds as I mentioned in a previous post, come out at that point. Sue birds post threats to project owners and creators. If they are truly trying to deliver a solution, it has to hurt their feelings. New tech includes waiting. So far overall I have had 7 projects that failed or have failed to deliver. Those projects are sad, because they were cutting edge cool. But I have backed more than 250 projects overall, the failure rate is not that great.
Just be careful!
avid Crowd funder…