Indiegogo Funds

[rickman]

http://www.indiegogo.com is similar to kickstarter.com, but allows
non-profits to participate. One thing I'm not clear on is just how much
of the funds actually go to the non-profit, or even the for-profits.

Their info on the web site says the "platform" fee (their cut) is 4% or
9% depending on whether you meet your goal or not. There are also third
party fees that depend on the credit card used or the PayPal cost. Then
there are other fees if payment comes by other means. Non-profits pay
25% less platform fees.

However... on every campaign page, just below the "contribute" button,
it says, "This campaign will receive all of the funds contributed by Wed
02 Jan 11:59PM PT." with the corresponding date and time. What does
this mean exactly? They get all the funds and then have to give back 7%
for all the fees? What???

Does anyone have experience with indiegogo? Anyone know why this is
worked this way?

I wrote to them asking about any contribution I make. I don't expect to
hear back right away because of the holiday and may never hear from them.

Rick

 

[miso]

Use this kick starter:

 

[miso]

Or one of these:
<http://en.wikipedia.org/wiki/Comparison_of_crowd_funding_services>

The SEC is still debating provisions of regulating crowd funding,
which should eventually nail down comission and fee disclosure
requirements:
<http://www.forbes.com/sites/tanyaprive/2012/11/06/inside-the-jobs-act-equity-crowdfunding-2/>

The Forbes article was a good read. Here is a jaw dropping statistic:

"On this note, I would like to mention the fact that Americans purchase
$45 billion dollars worth of lottery tickets every year, with the
average household spending $150 annually."

I simply can't believe people spend money on something less likely to
happen than getting hit by lightning.

You would lose less money at a slot machine than the lottery, though
both are about as boring.

 

[Tim Williams]

"On this note, I would like to mention the fact that Americans purchase
$45 billion dollars worth of lottery tickets every year, with the
average household spending $150 annually."

I simply can't believe people spend money on something less likely to
happen than getting hit by lightning.

You would lose less money at a slot machine than the lottery, though
both are about as boring.

A statement written by those who are just as boring as the numbers and
dollarsigns they call their friends.

The average ticket buyer may not be sufficiently introspective to offer a
correct opinion, but there are intelligent ticket buyers out there, and
they fully acknowledge that 1. buying a ticket for its money is obviously
a stupid idea, and 2. they do it for the entertainment value, the chance
to participate, and the thought of an unlikely windfall.

In fact, as entertainment goes, $150/yr is pretty damn cheap. More people
should buy lotto tickets!

Tim

 

[rickman]

The Forbes article was a good read. Here is a jaw dropping statistic:

"On this note, I would like to mention the fact that Americans purchase
$45 billion dollars worth of lottery tickets every year, with the
average household spending $150 annually."

I simply can't believe people spend money on something less likely to
happen than getting hit by lightning.

You would lose less money at a slot machine than the lottery, though
both are about as boring.

Not all lottery tickets are for the Power Ball. I spend a fair amount
of time in a place that sells lottery tickets and most of what they sell
are the instant win scratch off tickets. You have a much higher chance
of winning those and that is what hooks people. $5 here, $10 there and
they feel like they have gotten something.

As someone else said, they buy them for the entertainment value even if
they don't know it.

Rick

 

[Les Cargill]

According to Psychology Today, people buy lottery tickets because:
- (They want to) Join the party.
- A ticket of hope; a ticket of magical healing.
<http://www.psychologytoday.com/blog/affluence-intelligence/201203/lottery-itis>
I don't quite agree, but there it is inscribed in genuine ASCII. As
evidence, the sale of lottery tickets during the current recession is
on the rise.

I bought them for a while because the state lottery was paying for
my daughter's college education. Seemed like a pointless gesture of good
faith.

This has more truth than humor:
<http://www.cracked.com/funny-2134-lottery/>

I keep waiting for Obama to suggest a federal lottery to save the
economy. Methinks that has a better chance of working than the
current plans.

Most likely.

 

[[email protected]]

According to Psychology Today, people buy lottery tickets because:
- (They want to) Join the party.

Agreed. This also explains the group ticket buys. I've done it a few
times. It's worth the five bucks, or whatever, for the watercooler
time.

- A ticket of hope; a ticket of magical healing.

Sure. $1 or $10 isn't worth as much to them as $100,000,000.00, even
if the chances of winning are ten times worse. "Dollar and a dream"
says it all.

<http://www.psychologytoday.com/blog/affluence-intelligence/201203/lottery-itis>
I don't quite agree, but there it is inscribed in genuine ASCII. As
evidence, the sale of lottery tickets during the current recession is
on the rise.

Free time is, too.

This has more truth than humor:
<http://www.cracked.com/funny-2134-lottery/>

I keep waiting for Obama to suggest a federal lottery to save the
economy. Methinks that has a better chance of working than the
current plans.

It's been an abysmal failure at fulfilling the promises that the
various states have made, getting them passed. Everything else Obama
tried has failed. It'll fit right in.

Trivia: The French Chappe semaphore communications system of the
1790's was used for military and some commercial purposes. However,
the basic funding and most popular purpose was distributing the
winning numbers for the national lottery.
<http://en.wikipedia.org/wiki/Semaphore_line>

Probably not much different than government use of email today.