CrowdfundingI had an interesting exchange in Berlin a few months ago. I'd traveled to Germany to speak at CrowdConvention 2011, and there was the usual amount of revelry that follows a conference. At some point I landed in a conversation with an architect and graphic designer living in Rio de Janeiro. They asked what I did, and I naturally mentioned crowdsourcing. They stared at me quizzically for a moment, and then a lightbulb seemed to flash over their heads. "Is that kind of like crowdfunding?" asked the architect.
The act of crowdfunding may go back thousands of years, but the word itself was a splinter-term from crowdsourcing. To the best of my knowledge, it was first used a few months after my original crowdsourcing article was published to describe the business model behind the Dutch start-up, Sellaband (in which people contribute small amounts of money to musicians to help them record an album).
Over the last five years I've often said that crowdfunding might well outlive its parent, crowdsourcing. The crowdfunding model possesses a simplicity - lots of people contribute small amounts of money toward a cause, any cause, in which they believe - crowdsourcing does not. That day isn't quite upon us - at least outside Brazil - but I've decided to spend the next month or so devoting all my attention to crowdfunding.
There's so much activity in this category, and yet very little united coverage. It's my aim to correct that state of affairs, and as always, to spark some robust conversation.
Editor's Note: For the next month Jeff will focus his attention on the subject of Crowdfunding. Jeff will respond personally to all member posts, questions and comments.
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