I’ve been participating in crowdfunding campaigns since 2011 when I backed a documentary about MMA fighter Jens Pulver. I’ve enjoyed participating in the process of helping to bring products to market – 45 on Kickstarter, 40 Indiegogo – and other than the times I’ve been burned by backing a project that never came to market (which is another blog post) it’s been a fun way of purchasing items.
For this post, I want to focus on the other side of the story: what happens when you get the product, it meets your expectations, you utilize it fully, come to rely upon it…and the company goes out of business or EOLs (end-of-life’s) their product. Many technology products today have a service/app element and that means your hardware has dependencies upon the business model of the company you backed. They brought the item to market that you wanted, but if their business model changes or they go out of business, that thing you bought might just stop working.Continue reading Vinli’s Dead End: The Hidden Negative of Crowdfunding