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Damo666

CrowdFunding: BBC R4 MoneyBox

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Posted (edited)

As Crowdfunding is pertinent to the DJM modus operandi, and there have been many recent discussions and personal beliefs aired on this forum, I thought that today's MoneyBox programme on BBC Radio 4 may definitively answer many of the peculiarities surrounding Crowdfunding.

 

BBC Radio 4. Wednesday 22nd May 2019: Crowdfunding

 

NB: May not be available outside the UK

 

Edited by Damo666
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Thanks for that . Presumably its available on BBC Sounds , so I can catch up with it .

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Very interesting. 

 

I noted the caller at 20 mins with the comment that he had invested in one where the designer was skilled at design but no idea how to price or do admin.....rung a bell in my head...

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Well worth a listen, probably not much that hasn't been discussed on these boards but it packages a lot of the arguments and risk aspects nicely.

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Has anyone heard anything, or have the eastern dragons eaten him ? 

 

What is it they say about politicians and seasons? 

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I'm sure that a great many of us are waiting with bated breath to hear something from D.J.  I am talking about those of us who have shown faith in him and paid deposits towards the King class loco.
He has had a right mauling this last couple of weeks, so perhaps he is waiting for the dust to settle a bit before surfacing. 
He has become very much a Marmite character, and is a target for attack whatever he does. It has to be said that he brought some of it on himself with his sporadic communication to his crowdfunding backers. 

Hopefully things will become clear in the very near future.

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4 hours ago, wellseasoned said:

Hopefully things will become clear in the very near future.

 

I am not holding my breath....

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8 hours ago, wellseasoned said:

perhaps he is waiting for the dust to settle a bit before surfacing.

I reckon that the dust is unlikely to settle much all the time he leaves people dangling. 

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"I expect to be able to give better communications, sales service, after sales service and back up than any of the current manufacturers today."

 

Hmmmmm.....

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Wasn’t it last Friday he suggested he’d have some kind of news ? 

 

No press release on his website at the moment, another missed release date why am I not surprised.

 

Whats stopping him just slipping away never to be seen or heard of again ? 

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He has an awful lot of people demanding answers to an awful lot of questions in the light of his infamous announcement a few weeks back but yet all we seem to have got is the tumbleweed of indifference...

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Maybe it’ll take legal letters landing on the doormat of DJ Towers to trigger some kind of resolution either way ? 

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23 minutes ago, John M Upton said:

 The tumbleweed of indifference...

Poetic

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Seeing as this is a crowdfunding topic I thought I  would recount my one negative experience which suddenly became more positive yesterday.

 

Four year ago I backed a travel product through a Kickstarter. Nothing arrived, and Kickstarter would not refund my money as they had given it to the Taiwanese manufacturer. Anyway, yesterday, the postie knocked at the door and handed me a large box which contained exactly what I ordered in that pledge 4 years back, with an apology in eight languages explaining all the bad luck which had befallen the producers. From what I could understand their problems stemmed from:- 1) over-promising what they could achieve; 2) running out of money; 3) criminals stealing their stuff; 4) internet criticism of their poor communication; 5) the factory stopping them using their tooling. Reading it was like hearing the DJModels story all over again. 

 

The product does what was intended.

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On 24/05/2019 at 21:46, Great Western said:

Whats stopping him just slipping away never to be seen or heard of again ? 

Looks to me to be a more believable option than new models ever hitting the shelves.

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An important essential of crowdfunding is openness and honesty.   The company offering to produce a product with funds from the public must ensure that  it keeps the public aware of any developments in what I consider to be a timely arrangement.  He must be open to criticism if he is making the product known through a public forum.  Not all respondents to the forum will be "investors" on a specific product being offered,  however,  the company's performance will be a gauge as to its future releases and how they are handled.  Any criticism should be taken onboard and used to improve future releases.

 

A newly announced company offering a one-off locomotive release seems to be very thin skinned when it comes to questions asked on the thread pertaining to his product.  He ignores any post critical or asking what I consider relevant enquiries and only answers posts from those he considers to be fund paying customers.  In the current funding climate I would think that any company offering crowdfunding would be very transparent in how they deal with the public.  Ignoring legitimate concerns is one sure way to make a potential customers wary of ant future releases offered.  For the current project the company apparently is fully funded however,  future customers may not be current funders so the company's attitude to critical posts does raise concerns.  Being an experienced model maker does not necessarily indicate that a person is a capable businessman.  If experienced then what credentials does a company have as regards previous experience in business considering that to tool, develop and model a locomotive does require substantial capital investment?

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On ‎25‎/‎05‎/‎2019 at 12:39, Mike Harvey said:

Seeing as this is a crowdfunding topic I thought I  would recount my one negative experience which suddenly became more positive yesterday.

 

Four year ago I backed a travel product through a Kickstarter. Nothing arrived, and Kickstarter would not refund my money as they had given it to the Taiwanese manufacturer. Anyway, yesterday, the postie knocked at the door and handed me a large box which contained exactly what I ordered in that pledge 4 years back, with an apology in eight languages explaining all the bad luck which had befallen the producers. From what I could understand their problems stemmed from:- 1) over-promising what they could achieve; 2) running out of money; 3) criminals stealing their stuff; 4) internet criticism of their poor communication; 5) the factory stopping them using their tooling. Reading it was like hearing the DJModels story all over again. 

 

The product does what was intended.

 

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Was the item in the "Big Box" a class 92, as 4 years may seem almost  correct ?

 

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The whole thing reminds me of that old Spitting Image song about never having met a nice South African:diablo_mini::P

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