Wednesday, January 20, 2016

The Final Investigative Report on Kickstarter and the Failed (Fraudulent) Zano Drone Project

Here is the detailed report (Medium) commissioned by Kickstarter over the failed Zano drone that I was also a backer and, ultimately, victim to.  With millions of backers' money, Zano, the drone that would change everything, was a sure thing, right?  The video was awesome and its features were nothing like what is available on the market.

Delay after delay.  This was expected.  I like to give people the benefit of the doubt.  But then, boom!  Torquing Group went into liquidation, taking all our money with it.  No drone.  The shocked look on my face was likely plastered on thousands of others as well. 

While you can read the post (recommended) to find out what exactly happened, the result as far as I'm concerned, and likely feared by Kickstarter, is that I have been a lot more cautious about funding anything.  This is in light of other complaints from backers on other projects as well.  Kickstarter, like Indigogo, was fast becoming a place for companies to pull money from backers that sell subpar products or to entice users to back products, which at times, seem just another way to get buyers to pre-order. 

I still go on Kickstarter and scout for interesting projects but I have not backed anything for a while.  And I reckon others are doing the same thing I am.  Furthermore, I am also quite content to let others take the risks.  Sure, there are rewards like getting the final product earlier or with a discounted price.  Those are the rewards but I'm also perfectly fine paying retail on something later so long as I know it is what it is and works as advertised.

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