Michael, wow... awesome post. Thanks for taking the time to compose this. This deserves to be a sticky I already have the product, been selling them since 2009. So it's not a prototype but commercially available already. I'm looking at KS basically to raise funds so I can use it buy inventory parts in larger wholesale quantities. This will allow me to:a. lower selling price of my products (several products use the same part) andb. increase or keep profit margin the same, even with the lower selling price. I don't know if that purpose (using funds to buy inventory parts for an *existing* product) meets Kickstarter criteria.... since the project is already done and available. In a way, this is *Low Risk* to the buyers I guess? Which is a good thing. ***I do have another project in the works (right now I'm in proto stage) and considering posting it also on KS to fund PCB production and assembly.
What was their exact reason for the decline?
Wizdum, I've heard that before, and it doesn't surprise me. My mental model of what KS is (or used to be) is to fund projects that are at the concept state, and get them into the next level. Products that already exist don't really fit into what they want to do, though like in anything involving judgement, it can be a slippery slope. And the Nano watch was one of the straws that broke the camel's back, because that is the one that has backers suing kickstarter, and has caused them to retrench. Listening to interviews by the KS founders before the whole mess came back to haunt them, they have always been ambivalent about funding actual products (though I suspect a good deal of their money comes from 'products').
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