Sunday, March 9, 2014
http://www.cnn.com/2014/03/03/tech/web/kickstarter-billion-dollars/index.html
As crowd funding becomes prevalent in the entrepreneur market space, Kickstarter has finally hit the Billion dollar mark with its unique service. To be able to think of a small idea and execute it without having to invest your own money was almost impossible a decade back but now if other people like what you have to offer, they'll pay for it before you can even produce it. Services like Kickstarter will soon start to disrupt the retail market in terms of innovative and unique products. As people get more creative with their ideas and find the support they need, we could see many successful campaigns becoming proper businesses. This could also give existing small businesses an investor platform without going to banks or other financial institutions. Even though the scale of this service is extremely small it will only grow in the future and might also add monetary returns on some types of contributions which would enable it to disrupt the investment market space.
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Thanks to technology, small ideas have been able to be turned into a millionaire dollar company without a single dime being invested from the produce's own pocket money. Some examples include, Facebook, twitter, Myspace, and Instagram. These companies have one thing in common;they all started with one simple idea that turned into a multimillionaire companies with the help of computer innovation.
ReplyDeleteThe success of these types of business ideas have a lot to do with consumers' preferernce and demand for the business. People who have these ideas must have the ability to catch the opportunity in the perfect time in the market.
ReplyDeleteI think this is one of the purest forms of the theory of supply and demand. Consumers able and willing to fund the projects they like and suppliers who meet the most demand are able to produce the project. It is certainly a new frontier in human creativity too, I have seen countless movies and music albums being funded by crowd-sourcing. Very interesting and certainly a market worth exploring.
ReplyDeleteThis is really interesting to me and I think that Kickstarter is something great for our society. It promotes creativity and sharing of ideas. In similar articles, there is concern with the increase in technology, however, I think that with utilizing companies like Kickstarter, we will continue to increase our productivity.
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