I have backed a number of things on crowdfunding sites some were amazing like the Mystery Science Theater 3000 campaign, some not so much…COUGH…eon craptastic non-existent scooter.
Lets talk about the dangers of crowdfunding though, you find this amazing product that is futuristic and life changing and you think hell yeah I will back this whats the worst that will happen?!?!
Well for starters the company could just take your money and run, leaving you completely and royally screwed. There is no recourse for getting your money back if this happens Indiegogo will not help you get your money back, your bank won’t help you because the length of time between you backing a “product” and when it is supposed to be delivered!
Lets talk about that one for a second, you put money down for a product that is supposed to be delivered in 6 months, as soon as that product gets funded on Indiegogo you can no longer get a refund through IGG (Indidegogo) So check one for why not to back stuff on crowdfunding sites. There are many instances (google them) where companies/people have created crowdfunding ideas on IGG only to run away with the money and leave every backer screwed. You’d think IGG would have your back but sadly they do not.
Step two in trying to get a refund is to go through the company themselves (in this example my personal ongoing experience with EON Scooters) I say to EON “hey you are almost a year past your deadline, there is NO scooter even made, your updates are total lies so now I would like my money back”. Surprise! EON doesn’t want to give me the money back on their non-existent product and why would they want to do that!?!? There is nothing protecting backers so why would the company allegedly scamming you want to give you back the money they just allegedly scammed from you? So now you have gone to the company themselves and no response, no refund. Again you would think this is where IGG would say”hold on! a backer hasn’t gotten what they paid for and there is no timeline that they ever will we better step in and shut this down”….nope, check for yourself EON scooter is still on IGG and still getting money.
Step 3- just go to your bank! Have you tried going through your bank? They don’t want to have to fight to get your money back, that takes time and money to do the fight…
So what do you do? How do you protect yourself? The answer…get a lawyer. Thankfully for me I have friends that are lawyers that owe me favors and boy is it fun to watch them dig up dirt on scammers and set up lawsuits! Honestly its a blast to watch and I can’t wait to see any scammers lose it all.
But you may not have lawyer friends so unfortunately crowdfunding is a crap shoot… you may get that product one day but unfortunately more and more you may just lose your hard earned money. My advice, don’t crowdfund anything unless you know it’s from a reputable source.
Continuing with my allegedly never going to make a scooter or give the money back company EON, if you look at their IGG page you will see tons of great backers commenting how excited they are and how much they love EON, wells that’s odd you might be thinking, where are the negative comments?
WELL! a company has control of their own IGG page so they can “hide” any comment they don’t like, they might even create fake accounts nad post amazing reviews and comments! So you can’t even trust the IGG page to tell you the whole story when looking at it, sadly because of this more and more people get duped into backing products and cycle continues.
A company doesn’t even have to have their product ready by ANY deadline! You see deadlines on IGG but those are just estimates and companies can take years if ever to actually deliver(and keep your hard earned money)
So again think twice and my advice? DON’T CROWDFUND.EVER.
January 15, 2019
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July 03, 2018