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Director of the film program at Kickstarter, Elisabeth Holm speaks at the Tribeca Talks: Future Of Film Lunch Series 3 during the Tribeca Film Festival in New York City.
It used to be that if you were an entrepreneur looking to fund a new project, you had a few choices. There was the bank, private investors or your family to provide money to launch a project. But now, people are turning to crowdfunding sites like Kickstarter as an alternative. Entrepreneurs can pitch their products, some that aren't even made yet, in exchange for financial backing.
Recent successes in raising money on the Internet are making "crowdfunding" look like a real alternative to the old ways of bringing in startup money. But it's not clear what happens to the money if, and when, entrepreneurs fail to deliver.