If I Were a Kickstarter Supporter in Oculus Rift, I Wouldn't Be Happy Today

Posted on March 26, 2014 by Ted Leonsis

As a sports agent once told me in a business negotiation..."Ted, it isn't about the money, IT IS ABOUT THE MONEY!!!!!!!!!!!!!!!".

So - users came together to support this product and service, in a communal action, out of goodness and community spirit.

The product doesn't even ship and the company sells for $2 billion. The founders and the VC investor will cash out.

And the users who helped finance the product get an email of explanation as a thank you.

I hope this doesn't affect future altruistic Kickstarter campaigns and people looking to raise money for their service.

And if I were at Oculus Rift - I would do something meaningful to thank the Kickstarter community. Read these articles here and here. I think this is a seminal event in crowd funding as no one gives small dollar support in seeking to make a billionaire cash out in a short period of time.

next up:

Startup Grind?

March 26, 2014



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