Wariness

Technology Industry Trend

A large portion of the products that we have posted on this blog have been funded through Kickstarter projects. It should be known by all consumers that a Kickstarter marketing video and page, while impressive, do not always guarantee a satisfactory product. Let’s let the Ring by Logbar be a warning to all consumers and enthusiasts of smart products. In the video posted above, the reviewer calls customer support and reports that his product only works as desired 5-10% of the time. That is a ridiculously low percentage for functionality. And what does he hear from support? That is the average functionality of the product that consumers are experiencing. Outraged, the reviewer continues to illuminate the rest of the product’s bugs. The simple light to indicate that the product is even on does not even work most of the time. Also, the application has to be open on the phone for the finger gestures to even work. This is all in addition to the clunky design of the ring that is highly uncomfortable. The kicker? The Ring is a $260 product. Clearly, there is some risk in the enthusiasm that Kickstarter can bring to developers that aren’t capable of delivering. To sum it up, /u/kingofeggsandwiches puts it very eloquently why this whole business is risky

 

“Wish people would be realistic with crowd funding. It’s gone to the dogs completely because all you have to do is make some graphics and a cgi design video of some completely unrealistic product and boom cue nerds handing over a million dollars for your pipe dream. I wish people would think “is this the type of thing a small tech start up can realistically produce”, hell I see stuff on their all the time that would take multinationals like Sony or Samsung with a nigh bottomless money pit a few years of development to get right, do you think a small crew working out a garage space in San Francisco is going to do a better job?

People have become suckers for the idea that a few guys with a dream can have a bigger impact and produce something better than a billion dollar company, it’s romanticism at its worst. Crowd funding is is great for quirky small to mid level projects that naturally have a hard time getting funded for being outside the box and frankly not worth the risk from big companies. It’s not a place were serious high level projects go instead of proper investment, the people who want to do that go to real investors and get investment because their ideas are not only good but also feasible. Just look at /r/shittykickstarters to see how ridiculous it’s become.”