I decided the other day that a 17% failure rate for projects I was backing on Indiegogo was far too high, I reached out to campaign creators and since then have knocked that failure rate down to 16% and have gotten two refunds. It bothers me that Indiegogo struggles as much as it does, but based on that partnership with IBM it is no doubt they will continue to struggle.
Crowdfunding is hard no matter what you do. Indiegogo is a lot more stringent now than they were (again, I said that would happen ages ago when the partnership with IBM was announced. IBM is one of the biggest IT companies in the world, rigor they are good at). But things are interesting now. I suspect they (Indiegogo) need to do a better job of policing both how they appear, as well as what creators of canceled projects say about them.
Recently Indiegogo canceled a project called TitanNote. They have canceled some projects for user safety and policy violations. Normally what happens is the campaign fades away. Not always though, some Campaigns launch a flurry of emails, with the project creator stating that Indiegogo is wrong in the cancellation. Now you enter the reality of he said, and she said. No one ever wins in those scenarios.
As the consumer I understand it is my responsibility to be aware, to listen and to choose the side I want to believe. Much like politics, there are often two answers, both of which may be right and BOTH OF WHICH MAY BE WRONG. But there are always at least two answers. You have to consider the two sides and pick the one that makes the most sense to you.
That’s why the open IBM and Indiegogo deal will eventually fail. The real power of crowdfunding is the reality of freedom. Not the reality of a site that has a huge company lurking. Rather, it is the freedom of people trying to do what it is they dream.
If the folks at Kickstarter or Indiegogo ever read this post, contact me. I have a great idea for a way to get companies engaged in the process without them being directly involved. The reason crowdfunding emerged in the first place is the REALITY of large companies R&D groups in the first place. I doubt either will ever read this or even reach out, but one can always hope the power of dreams works.
The last step we take as dreamers are the first step we take as realists. We can’t let all the dreamers have those dreams killed!