Why Kickstart? The Psychology of Hitting Pledge

From Gaiscioch, “Uncertainty is one of the decisive factors of any investment and the Kickstarter model has launched several high profile catastrophes that highlighted the risks in this particular area of the market . By the opening of 2015, the Zanos Kickstarter project appeared on Kickstarter and proceeded to take millions in pledges from a feverish torrent of backers. It promised a fully autonomous camera drone, capable of capturing action from any angle, completely independent of its subject.

It ended in unmitigated disaster. Rather than delivering the hi tech Go Pro of the future that had been demonstrated, the final production Zano turned out to be a listless contraption, scarcely numbering in the hundreds, that could barely fly and frequently crashed. Around $3.5 million of backers funds was lost, the company behind the Zano filed for liquidation, and the failure was damaging enough for Kickstarter to publish an investigation (Harris, 2016).”

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