Crowdfunding, explained by Exploding Kittens
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- čas přidán 28. 09. 2017
- From a game with friends, to a nine-million dollar phenomenon.
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Many thanks to Yancey Strickler, Elan Lee, and TED for this interview we recorded at TED 2017.
Exploding kittens started of as a card game of Russian roulette with a hint of Old Maid between a group of friends. It turned into a national phenomena with the help of a crowd-a crowd that was built from folks on Kickstarter. But with incredible rewards of crowdfunding, there can be costly risks as well to putting out valuable ideas of products to the world before they actually get made.
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“I’ve funded 1,950 projects”
This guy must be rich and dumb.
“I am the ceo of Kickstarter”
Oh damn.
Don't they get the money back if the project doesn't launch? ALSO, he's the CEO, it's not like it's coming out of his pocket.
The 5% fee is really what backed those 1950 projects. Lol.
He makes money for each project that reaches it's goal. So of course he wants to back as much projects as possible
I was thinking the exact same thing.
Now i know who that 1 guy is who backs the horrible project. Used to think it was the creator... but now im having 2nd thoughts
The title threw me off a bit.
Fake news. Star Citizen is highest crowdfunded game ever. en.wikipedia.org/wiki/List_of_video_game_crowdfunding_projects
Nerd Council They said that exploding kittens was the game with most backers ever, not the highest crowdfunded one
I was expecting animal abuse, nop...
Me too. I thought this was going to explain Crowd Funding.
I met Yancey at Web Summit in 2015.
He was such a nice guy, warm and spent time speaking to me about what projects I’m working on and my personal projects.
He was very humble and gave great advice!
Crowdfunding, explained by Exploding Kittens
There was no message "No kittens were harmed in the making of this video"
I am not comfortable with this.
Tell Me This stop commenting
Noah DeJesus Stop replying on my comments
Lol americans
JoostGlas lol non americans
lol earthers
Why do they come back to Kickstarter? Because they recieve huge amounts of revenue before any real product has been made/shipped.
Basically lowers the risk
Dan Honey it eliminates it entirely. Normally you'd have to either put up your own money or give a large section of the profit to the people who did invest. Now they keep all the money and the ownership, and pay for it entirely with someone else's money, which means it's literally impossible to fail. They could never sell a single unit and still have made an enormous profit.
Its also an easy way to gauge demand
Its also an easy way to have your cake and eat it too ;-)
@Krombopulos Michael: That's stupid. As an investor I would expect all perks of owning public company shares.
It's not about money, but it's about money.
No risk when it's not your money.
If it doesn’t make its funding goals, doesn’t the money get returned?
if people didn't know that Exploding kitten is a card game the title is messed up
FoJq Yx that's why the game name is in capital letters
If you were expecting actual exploding kittens rather than Exploding Kittens, and can't tell the difference, I don't blame Vox for that. That's on you, bud.
I honestly thought it was someone's username
like player unknown?
Kickstarter is really hit or miss , it really doesn't have a good track record.
Thats not kickstarters fault, that's the companies/people who can't live up to what they promise. Kickstarter is great platform overall.
Achast you also have to not have a shitty idea. I feel like crowd funding, which is available to every idiot who thinks they're the next Thomas Edison, creates a bias to an outside observer that kickstarter is a bad platform to launch your product, even though, if you actually have a good idea, and know how to market the idea, you will most likely recieve the funding you are asking. Note, i have no evidence to back this up, but i would like to hear your opinion on this hypothesis.
You have to be skeptical to back a crowdfunding project. Is it presented well? Do the creators give the impression they know what they are talking about? Does the target $ seem feasible to what they are trying to accomplish? Do they engage with the budding community in the comments section? Are you ok waiting beyond the targeted delivery, because of the inevitable delays? And last, but certainly not least, are you prepared to lose all the money you put in and get nothing in return?
If the answer to all of those questions is 'yes', then the probability is much, much higher it will get done.
Achast it really does actually you fuckwad
Investing in a startup company or product has a bad track record in general. There are plenty of failures for the successes.
I actually own this card game a year before the video. It wasn't very popular in my area so I was extremely surprised that a video from Vox featured it.
Kickstarter needs a policy where the creators need to have some sort of deadline set after reaching their goal (and preferably reported progress for reaching certain benchmarks) and if it is not met people can take their money back.
I'd wager it is more difficult than that. Especially when projects make far more than they asked for. When so much is donated over the threshold amount, backers will expect more from the project which can ultimately lead to longer production and shipping times.
All I expect when I back a successfully funded project is for the creators to keep the backers updated as often as possible. That makes the wait bearable or even worth it.
its essentially giving to the homeless without smth like this. some who take home more than me!
That’s not how those investments work. If you have a deadline, the creator might cut corners to reach that deadline and you get a worse product.
They did it "again" because it's easier to gamble with someone else's money.
Option A: Not take the free money and take all the risk yourself. Possibly go into debt and/or sell equity to raise funds.
Option B: TAKE THE FREE MONEY! NO RISK! KEEP ALL THE EQUITY AND PROFITS!
Kickstarter is crazy.
Yeah exactly. What risks....?wtf it's free money. Where's the risk? This video is weird
jczlcheeze wait, if the thing fails to make enough money, isn’t it returned? They went back because it allows them to gauge interest and hype.
it's to raise a crowd! that's why there' so many rewards ._.
to get people excited for the game
I own a first edition of Exploding Kittens and my favourite thing is just opening the box to hear it meow.
Here because it said Exploding Kitten in the title.
if(title.contains("Exploding Kitten")){
enter();
}
Vox and TED teamed up? The two best explanatory channels are working together? Dream come true.
Nick McKay "Two best explanatory channels" Doesn't include CGP Grey as one of the two 🤔
He's great, but not super big. But I wish he was.
Vox has the fancy charts and graphs, TED has the people
I love vox. They are the best CZcams channel that does professional style interviews.
Unlike buzzfeed, they take a serious and neutral approach that gives the information in a fufilling and entertaining way.
So they're both good?
Joost Heynickx no. I said that buzzfeed doesn’t do what vox does.
Mason Ahner ok
Mason Ahner how are they not buzzfeed
Mason Ahner i would agree on some videos but on others they are biased and don’t recognize opposing views which hurts their credibility
It was very deceptive to say that they had the most backers without revealing what actually raised the most money.
Golden Duck can you elaborate?
moocowisback is it that
Fake news. Star Citizen is highest crowdfunded game ever. en.wikipedia.org/wiki/List_of_video_game_crowdfunding_projects
Not within the time limit it wasn't.
Only 2 million of Star Citizen's funding was through Kickstarter. The rest is on their own website.
As long as Kickstarter doesn't offer any 'Insurance against bankrupt project or shitty realization' I won't back any projects.
Too much (even massively overfunded) projects failed dramatically with the backer as the only 'loser'...
how is that losing?? if the project fails you get your money back
Maybe because you only eye big projects, for little ones such as mine I can deliver
He means after the fundraising, if the creator isn't really good with numbers. Some ask too little, don't estimate well shipping, or even the time to complete a project (especially video games)
Ngl I never understood the exploding kittens hype. No strategy, basically 100% randomness, so the Russian Roulette comparison is pretty accurate.
Yeah it's about as engaging as Uno.
Limey Lassen honestly even less. It's as fun as everyone rolling a die go see who gets the biggest number. You can also play it with just a normal deck of cards, like they said. I can't fathom the kind of person who saw this was already fully funded and still thought this was a good use of a donation.
Its not that bad. There’s strategy. If you use the bonus packs I guess... (on the phone version)
Nah, it has strategy. Without strafest you will get blown up. It gets very intense near the end of the game as well.
This is a nice commercial
i hate to break it to ya...
+Mazder_ There's no point. He won't get it.
Mazder_ Please, explain
Now I want to explode some kittens
@spencer rodden, I was scrolling through, just to find this one comment.
This Vox at TED colab series is really top notch. Great work, guys
You guys just answered all the questions about strategy in crowdsourcing! Thank you for the gold nuggets...
I learned a hard lesson about Kickstarter. If you have no friends, no social media presence BEFORE you launch, you will most likely never even be seen. About half way through my campaign, I started buying placement at the top of the suggested lists. I even bought expensive mailing lists to send off press kits to hundreds of bloggers, writers and columnists. But if what you've got isn't an app, or hip and trendy, it will often not get an external write-up. I mailed off free samples to other Kickstarter campaigners who were already larger or clearly have been funded, just to get them to try my product, and give a shout-out in their email updates.
Which is kind of a weird concept, but now it's almost expected part of the community of Kickstarter creators. I even backed several projects just to be able to message the creator in a quid-pro-quo trade of mentions. My project was running during the Coolest campaign, so I was naturally being drowned out by their buzz. So I backed the Coolest, sent the guy a free sample of the product. He even wrote back and said he loved my product. But refused to give a mention in any of his hundreds of backer email updates. Stating he was trying to stay "laser focused" on getting his project off the ground and that he was NOT going to promote anyone else's campaign within his backer update emails. And only 2 backer update emails later, there he was promoting some other random product that already reached it's funding goal and didn't need the mention.
Eco Mouse it’s a cold world out there, but I’m glad you take this as a lesson learnt and not defeat. Much luck to yea!
When people stole your brain child, the pain.
Very Seth Godin! I love the finale and the importance of people drawn out at the end. Cheers guys
Actually - it's pretty simple to get a trademark thrown out if you can prove prior art. And it's a simple presentation to a USPTO examiner. How much of Vox is exaggerated?
Did not know what Exploding Kittens card game is and was expecting the internet to lash out for animal cruelty 😂😂😂
lol
Crowdfunding is tricky since you're trusting the owner to actually make the product
I love this series! Continue plz!
Vox makes excellent fun and concise videos
Damn, VOX. This video was awesomely written! MindBlowing.
I appreciate *these* Vox videos.
They actually give a different outlook of a subject without being opinionated or prestigious, by just giving neutral information.
As an old timer, I can tell you that news used to be like that when I was young. :-)
once again trending #25 this time...i love your channel
Confused; I know what crowdfunding is but this report was disorganized.
The whole kickstarter campaign was hilarious with those "quests". It was amazing to see the lengths people went through to complete the said "objectives" chart. :-D
And it was effective, because people kept coming back to see what parts of the objective chart were "unlocked".
We played Drunken Strip Exploding Kittens one Friday night when absolutely nothing else was going on. I don't remember who won, but everyone ended up drunk and mostly naked.
My favourite Vox video...
OMG, my 10-year-old daughter and I LOVE playing Exploding Kittens! I even introduced it to my Ladies Game Night and they all love it, too!
Vox+TED=awesomeness
I enjoy backing comic book trades because publishing books is very low risk, mostly guaranteed reward.
This video was uploaded right after I became hooked on the online version of the game.
my little cousin made me play this and I had no idea what was going on
Someone needs to kickstart Puerto Rico because they desperately need help
Vox at TED videos are really good.
Every time I go to D&D, we play a couple rounds of Exploding kittens before starting. It’s such a good game!
What about all the scamming that goes on with crowd funding? Wish you covered that as well
I want to be friends with Yancey more than any person I've never met. He seems like such a likable person.
Also, this is such a genius idea.
you need around 50 atomic cats to power norway for a year
you need 3 cats thrown into a black hole to power norway for a year
Vox at Ted? What a powerful combination!
That end part was really deep for a game about cat’s Exploding
"without a crowd and without people, it's just paper"
basically FIAT currency
The title made me expect that I'd learn crowdfunding by playing Exploding Kittens.
Someone really hates kittens....
actually they try to make the kittens as cute as possible, after all, it's not like you WANT to explode -_-
Hey Vox ! Could you make a video about what’s happening in Barcelona with the polling station and Madrid saying this is illegal ? Thank you !
Not a single sentence in this video questioning why a company whose previously Kickstarter project had millions of dollars of sales, is effectively soliciting for more donations? Really?!
PSquared1234
Watch the video again, idiot.
@PSquared1234, they answered it when they said Kickstarter gave the game-maker the crowd who plays the game.
PSquared1234 from what I got it essentially shows you what your audience is. You can see if and how many people are interested in the product before you actually begin to mass manufacture it.
They're not "donations". The people who paid received the game. It was more like preorders.
It’s a form of micro-investment. You invest, hope it materialize and that you get your dividend (in this case the game) back.
Video goes up depicting a positive subject about the possibilities of Kickstarter. Bunch of people get triggered and posts negative comments about it.. Cause there couldn't possibly be good things in the world -.-
I swear, it happens every time
Simone So true!
There are literally no risks to kickstarter. Vox kept claiming so.
I'd love it if you guys could do a video on Patreon sometime down the road!
Vox + TED = Awesome
Without money in mind... a few tiers thats it...
$500 tier
nice to see the vox staff
This game is so cool.. And cute lol. 🐈
I'm just waiting for my ossic x to arrive, it's had several delays and I'm getting pretty worried. It was a pretty successful and legit looking campaign so maybe it's just that those headphones are hard to manufacture.
Why did I get a notification for this video? I’m not subscribed to Vox.
Jack/John Carpenter, because of suggestions generated by the artificial neuron network.
Because the algorithm knows what you like better than you do.
Zzyzx Wolfe, and which one can't know and/or realise.
You should,
Disable notifications for youtube.
I love this game! It’s so fun!
After watching this video I still don't know what crowdfunding, backer, kickstart (and a lot of other terms) are
Could you guys do a related video about vapor ware? Specifically the crowd funded, vapor ware juggernaut: Star Citizen?
The box meows when you open it btw
How did Pusheen get mixed in with The Bobcats? And they used KickStarter because they knew that engagement would bring tons of more people into the fold by word of mouth and they'd make gobs more money instead of just selling it on their web store. Competitors from Shenzen or not, they'll still get gobs of money. You get this big buzz of excitement and hype, so people will give tons of money without thinking critically about it, especially because there's a time limit and when you see tons of other people have put in towards getting it, you don't want to miss out. It's all about that sense of urgency and keeping up with the Joneses. Don't think this isn't exploiting human nature.
I got the game and it is very nice and funny. If I had known about it during funding I would have contributed
I'm loving this music! Does anyone know what it's called?
Exploding Kittens may be my favorite card game of all time. But u have to get every possible expansion pack, like Imploding and Streaking Kittens.
I love that game, I play it every day at lunch in school
I want to raise funds for my SCI-FI film and this video indeed helped me alot...
I love this game. The guy who created it is a family friend of my best friend. My favorite card is see the future. "With these eyes, I see all things regardless of space or time. Time is but a vessel for blood soaked RAINBOWS."
4:53 should've drawn the nope card
I've played this game, it's Hella fun but did not know the story behind.
This game is great, especially with a imploding kittens add on
Crowdfunding, explained by Exploding Kittens
did you guys explode kittens just to explain crowdfunding? Wtf Vox
Tell Me This I
notice how exploding kittens is upper case
anti henti notice how it's a joke
THIS IS A NO JOKE ERA! YOU HURT MY FEELINGS, THE UNIVERSE IS CRYING WITH ME. I WILL TELL THE PRESIDENT, AND MAKE YOU GET ARRESTED FOR MANSLAUGHTER.
Fake news. Star Citizen is highest crowdfunded game ever. en.wikipedia.org/wiki/List_of_video_game_crowdfunding_projects
Vox + TED?
Awesome.
But did anyone see the pdf of the best pdf ever
BEST TITLE EVERRRR
Exploding kittens is my favorite game so I clicked on this video instantly
This video just feels like an ad for Kickstarter.
Blarg that was a story concept I had. I need to seriously push out my ideas
You also have to consider marketing. A LifeAlert (or any product for the elderly) would not do well on the site because their intended audience (and customer) isn't there.but that's why they run ads on Judge Judy. That's one glaring example, but really consider who is on Kickstarter
i'm more concerned with the technical side of things. Say i wanna crowdfund a videogame, i know i need money. But how do i know what the money should be spend on? Do i buy artists. Do i hire them, contract them. Do i hire people to manage it for me. If so what do i risk with it.
These questions is what i find more scary, a crowd will come on it's own as long as the project is good.
I've played that game. It's really fun.
Awww. Exploding kittens are so cute.
Raising money to make a infinite water source for Africa: *1 million dollars*
Some game about kittens exploding: *9 million dollars*
did someone forget to color grade the video or is that the Vox style now??
deep words of wisdom at the end
I thought you were going to explain crowdfunding using a graph with exploding kittens on it or something.
You forgot the extension of Imploding Kittens.
does backing a project up on kickstarter means you fund it? like donate your money? i don’t really know how kickstarter works tbh
Well, all I have to say is that you have less than 10 hours to back the Legend of korra pro bending arena on Kickstarter, it has reached 900% of its goal and is a really great game
Hassan aljaber 900% of its goal is a lot already
Hard to keep up with all this; who would have thought of an economic model that developed a market before a product existed.
You must be fun at parties...
ever heard of planning?
people didn't HAVE to give money...
it's only if they really want it....
Ok CZcams I finnaly watched it. It's not like you've been reccomending this to me for more then a month....wait what are u trying to tell me CZcams ?
Totally stupid to crowdfund them again after 8 MIL.
games aren't cheap....
We have this game and it is awesome!
LOL, strategy in Exploding Kittens. That's cute.
I was hoping for animated exploding kittens used as stand ins for crowdfunding graphs and metrics.
Wait am I a sociopath?