"Kickstarter fail, has it happened?" Topic

I bought into the kickstarter for a game that is now 2 months behind. I am curious do we have anyway to recoup our losses if a game never gets made?

Has anyone heard of a Kickstarter failing or anyone not gotten the items promised?

Only whatever statutory measures your jurisdiction offers for pursuing non-delivery of goods; there's no additional protection provided by Kickstarter. I haven't heard of one falling through, but have no doubt it's happened….

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Doesn't really tell you much though. The creators' FAQ says you're expected to refund if you can't deliver on a project, but doesn't specify any sanction for failing to meet that expectation….

I would suggest calling your credit card company if you think it isn't going to come through. That is about the only way to get your money back unless you contact the company and ask them directly which is probably a good idea.

Do you mind telling us which game it is so the rest of us know what is going on?

So you invested money, on the internet, for a product that did not exist? And so far no product? That's shocking!

Google "kickstarter fraud". I personally am very wary of Kickstarter. Best of luck, but I think you have to accept it was in "investment" not a purchase. Rob.

If I recall correctly, from viewing the kickstarter website, the general success rate is listed as about 50% – 80%, or so.

Not sure if you have any recourse after the fact, since it probably is like investing in stocks, or bonds, which can go poof, too.

This is the problem with truly new companies trying to get started, but not having a clue. Many of them do not charge enough and then also get caught up in giving away free stuff they can't afford. Of course they have no idea they can;t afford it because they have no experience, no business plan and no idea what printing an manufacturing really costs. Some people gripe about the larger companies using Kickstarter as a "preorder" system, but at least with a company with history and previous products, they should have some clue as to what they are doing and they have their reputation as a company to lose if they don't deliver. I love the concept of the little guy making a start with something like this, but there are going to be some that bite off far more than they can chew. I hope it all works out and you get your game. Better a little late than never.

Jeff

(I hope to see my copies of Zombicide soon and then Sedition Wars. Also waiting for my copies of Tom Jolly's Got IT! math game, but I let him delay my order since he was having some printing problems, but other folks already have theirs. Some games are succeeding, just may need to be careful which horses we bet on.)

What kickstarter if i may ask?

(backer of zombiecide and sedition wars, as well as hopefully goal system)

I'd start with your credit card company. I'm sure it has happened that someone gets kickstarted and cannot deliver, though I've never personally heard of it.

-Will

CC company might not be able to help. The site is pretty clear your money is at risk and you did willingly make the purchase.

Always worth a try tho.

Without knowing more details, I have to question whether your CC company will help you or not. I'm guessing not. I don't see it as being any different than buying stock from a start up company. Some investments pay off and some don't.

Following this has been interesting.
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> Only whatever statutory measures your jurisdiction offers for pursuing non-delivery of goods

I'll ditto what 79thPA said, Kickstarters are not the same thing as ordering a product – the rules on what is required of a kickstarter are murky at best. While I suggest you try the non-delivery of goods angle there is no gaurantee it will work. Kick starting is a form of investment (without the minimal legal safeguards that go with regular investing) rather then purchasing a product…

The only individual responsible for delivery on a promise from Kickstarter is the project owner. Kickstarter does not accept any responsibility so there is no recourse to them. Since the disclosure that the project sponsor bears the risk is pretty clear on the site there isn't any recourse to your credit card issuer so this is a true open market and "caveat emptor" kind of rules the day.

I find Kiskstarter to be a very interesting short term financing tool for small businesses to generate funding via pre-selling their project. It also serves a market assessment tool as the level of interest can be guaged by how many people look and then invest. Never-the-less, small businesses are a high risk affair given their high mortality rate. One of the keys to look for is a track record – those businesses that have successfully completed a kickstarter project and have good sponsor feedback are lower risk options.

One thing to be clear – Kickstarter is not a form of investing and the site goes to create lengths to make that clear so one can't expect the same safeguards and standards that go with the investing concept.

If you invest in multiple kickstarter projects you will pick a looser now and then, but then your experiencing both sides of the free market system!

Remember that when you buy into a kickstarter, you are not buying a discreet product (although on a superficial level it looks that way due to the rewards you are promised). You are investing in a project, and your yield will be the reward that is stated.

People who regularly invest in startups can tell you that all too often it never takes off and you lose your money. It's simply not the same as buying a product and not getting it.

I don't think this has sunk in yet with many of the investors, however. They get caught up in the stretch-goal feeding frenzy when all they think is "more more more product for comparatively less less less money!!!" and it's just a matter of time before a bitter lesson, that it's not product purchase but a risky investment, is learned. In fact, the more stretch goals, the more ambitious the project becomes, and thus the more likely it will fail.

I understand that (at least in Canada) the legal infrastructure around crowdfunding is pretty much undefined; it will be interesting to see how it all falls out as the number of failure stories start – and lawsuits – to pile up.