Technology
19 Weird Crowdfunding Campaigns That Failed Spectacularly
Crowdfunding has been a game-changer for getting new products off the ground.
Platforms like Kickstarter or IndieGoGo have allowed aspiring entrepreneurs to get their ideas in front of millions, while generating invaluable amounts of buzz and publicity. Highly successful campaigns include products or proposals such as Ethereum, Oculus Rift, Pebble, or Star Citizen, which have combined to raise hundreds of millions of dollars in new capital.
However, because crowdfunding is open to everyone, not every campaign brings home the bacon. In reality, some campaigns are just plain strange or border on being nonsensical in nature.
Other ideas just bomb spectacularly. Either the concept has no product-market fit, or the prototype simply doesn’t do what it is supposed to do.
Weird Crowdfunding Fails
Today’s infographic comes from SSLs, highlighting 19 crowdfunding campaigns that were not destined to change the world in any meaningful capacity.
Note: These are all reward-based crowdfunding campaigns. Along the right-hand side of the infographic, it shows the platform used, amount raised, and the fundraising goal. Down the middle, it highlights the most ridiculous reward that was offered to backers, and how many people claimed the reward.
Where did some of these projects fall short? What can we learn from them?
Some projects such as the Induratus nuclear bunker were destined for failure because they were inherently selfish. The product could have been great, but if it doesn’t benefit the backers, it’s not going to take off. Sadly, the Induratus raised just $1, and as a result the project’s creator is now left very vulnerable to nuclear attacks.
The Triton, a set of artificial gills that could allow a user to breathe underwater, had the opposite problem. While the creators behind the project got the hundreds of thousands of dollars of funding they needed, the idea turned out to be scientifically impossible. In fact, the development of similar technology has eluded the world’s top scientists and military contractors for years. The group behind the product was forced to refund backers to the tune of $900,000.
Other projects were scientifically viable, while also solving a perceived market need. However, the problem with these products were that they did not serve a large enough market to make sense. The Sauceman’s Satchel is a good example of this.
While the creator loved the idea of a “convenient, carry-able, flyable, sauce transport” for camping and travel needs, the market overwhelmingly did not. That’s why it only raised about 40% of its funding goal from 105 backers. Now, the Sauceman Satchel is only serving sauce-lovers in product pitch heaven.
Technology
Mapped: Internet Download Speeds by Region
North America and East Asia have the speediest internet.
Mapped: Internet Download Speeds by Region
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
In today’s fast-paced world, internet speed isn’t just a convenience—it’s the driving force behind how we work, play, and connect.
In this map, we illustrate median download speeds in each global region, based on data from the World Bank’s Digital Progress and Trends Report 2023.
North America and East Asia Have the Speediest Internet
According to the World Bank, download speeds in high-income countries increased significantly between 2019 and 2023, while speeds in lower-income countries stagnated.
As of 2022, North America and East Asia have the speediest internet.
Region | Median mobile download speed (Mb/sec) | Median fixed broadband download speed (Mb/sec) |
---|---|---|
East Asia & Pacific | 90 | 171 |
Europe & Central Asia | 44 | 85 |
Latin America & the Caribbean | 26 | 74 |
Middle East & North Africa | 36 | 36 |
North America | 83 | 193 |
South Asia | 27 | 43 |
Sub-Saharan Africa | 16 | 15 |
This difference in broadband speeds can mainly be attributed to investment.
In 2020, nearly 90% of global telecommunication investment came from East Asia and the Pacific, Europe and Central Asia, and North America. These regions not only concentrate the highest-income population but also the top technology hubs.
Meanwhile, low- and middle-income regions such as Latin America and the Caribbean, South Asia, and Sub-Saharan Africa accounted for less than 10% of total investment.
Most of the investment is directed towards fiber optic and 5G mobile networks. According to the mobile industry association GSMA, mobile operators alone are projected to invest more than $600 billion between 2022 and 2025, with 85% of the total allocated for 5G.
In 2023, broadband speeds in high-income countries were 10x faster for fixed connections, and 5x faster for mobile connections compared to those in low-income countries.
Fixed broadband connections, which provide high-speed internet to residences or businesses, reached 38% of the population in high-income countries. In comparison, fixed broadband penetration was only 4% of the population in lower-middle-income countries and almost zero in low-income countries.
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