Tag Archives: Crowdfunding

Was the Downfall of This Drone Maker Fraud or Crowdfunding Gone Wrong?

Do you know what crowdfunding is? It is the concept that a bunch of people on the internet can put their money behind a product, see it developed, and get to enjoy the finished product they paid for. It’s a type of investing, which means there is inherent risk involved. Sometimes the product you invest in doesn’t make it to the final stage, and investors lose their money, but is this what happened in the case of drone maker Lily? Was It Fraud or Crowdfunding? Millions of people watched an online pitch for the Lily personal drone and were stunned. This little device was touted as the next step in personal photography. It had simple controls, it could be programmed to do things, and it could even follow its owner around. There was only one problem. This miracle product didn’t exist. The makers of Lily actually pieced their pitch trailer…
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