The Crowd-Sourced Economy

Andrew Sullivan —  Feb 13 2012 @ 7:47am

Jeff Jarvis spotlights an exciting story:

[C]onsider that Kickstarter just passed a key milestone: two projects garnering more than $1 million in … what do we call it? … contributions? purchases? investments? We don’t have the right name yet for orders received before a company starts and a product is made. We don’t have a name for a company founded on its customers’ capital.

Alexis Madrigal's takeaway:

If Kickstarter merely funds things that would have gotten money in some other way, it's a cool thing. But, if Kickstarter funding allows the creation of fundamentally new and different kinds of stuff, then it is a creative engine of a much-higher caliber.

Marshall Kirkpatrick has more on the video game that raised $1 million in just one day.