Since 2010, over one and a half billion dollars has been transferred from Kickstarter backers to project creators, and with Kickstarter’s 5% cut taken on each dollar collected, that means Kickstarter has had somewhere in the neighborhood of 75 to 80 million dollars in revenue in the last five years. That’s a success by any measure, and as with this huge amount of money, questions must be asked about the transparency of Kickstarter.
This is not a post about a Kickstarter project for an impossible project, a project that breaks the laws of physics, or one that is hyped beyond all reasonable expectations. This is a post about Kickstarter itself, and it’s been a long time coming. In the past, Kickstarter has shown at least some transparency by cancelling projects that are obvious rebrandings of white label goods – a direct violation of their rules. Kickstarter has even cancelled projects that violate the laws of physics, like this wireless charging Bluetooth tag. It’s a start, but Kickstarter has a much larger problem on its plate: the Staff Pick problem.
Continue reading “The Problem With Kickstarter: A Lack Of Transparency”