OK, that’s a lie. But it could’ve been the case!! My last post contains a completely untrue statement — Kickstarter and Seedrs are NOT the same company and while they both allow mere mortals to become investors, they offer a very different proposition.
I didn’t lie knowingly, it was thanks to research done on the fly. A quick Google led to following news items which if I had slowed down to read properly, I wouldn’t have jumped to the conclusion that Kickstarters and Seedrs are literally the same thing (as the first headline in the link above suggests).
Thank you Frank for commenting on yesterday’s post to point this out to me.
And now that I’ve realised my error, I can report that if I wasn’t too excited about Seedrs, I LOVE Kickstarter. Even if the UK outpost isn’t here yet, I was able to back one of the projects on the Kickstarter site by logging onto my US Amazon account. How easy is that?
(Why do I have a US Amazon account if I am in the UK? 1/ I Like to send people books and many of those people are in the US. 2/ For some inexplicable reason the US versions of many books are much more physically attractive — the paper quality, the front cover design, than their UK counterparts and being a book snob, I want the nicer version. 3/Not all titles published in the US are available in the UK.)
But back to my discovery. With the hurry I’m in this morning, I won’t make a similar mistake as yesterday and risk summarising the differences incorrectly. Instead I recommend checking out this link for a detailed comparison of all sorts of crowdfunding websites.
The reason why I took an immediate shine to Kickstarters is that the projects on offer are from people not businesses (like Seedrs) and in particular it’s a platform for artists to get their work into the world (charity projects are excluded, which reminds me that I did contribute to crowdfunding for charitable causes back in May and must follow up to see how those I backed have fared …).
The pay-off for backing Kickstarter projects involves rewards, not equity. The rewards are determined by the person looking for backing. And the projects are often asking for relatively modest amounts, so it’s easy to get involved. I was immediately taken with a project involving Halloween cards, but instead decided to back an artist from Boston. Hannah Burr put this video together to explain her project. My reward for backing her is a signed edition of the book she’s producing. A much more inspiring way to kick off Monday compared with trawling through the new business ideas I might invest in.
As for my questions from yesterday on how I would make a decision to invest in a start-up, an expert has kindly come to the rescue or rather his wife has — she’s offered me an interview with her successful tech start-up husband who will hopefully educate me on the up’s and down’s of becoming an angel investor.
Onto this week’s assignment. The four of diamonds. The task? To use my spend tracker to do some analysis. What have I been learning about my spending patterns this year? And while I’m at it, have I been achieving my quarterly goals?
PS I’m aware that libel involves an untrue written statement about a person, not a company. Does anyone know the correct term for when the false accusation made concerns a business? In the interim, about yesterday’s mistaken conclusion — Sorry Kickstarters and Sorry Seedrs