In 1884, the folks erecting the Statue of Liberty ran out of money. Joseph Pulitzer, a big shot publisher, took to his “New York World” newspaper and encouraged Americans to donate so Lady Liberty could be completed.
Why the heck would Google invest $250 million into a start-up that’s basically a taxi service? Or here’s another one for you: Why would one man invest hundreds of millions of dollars trying to send ordinary citizens into space, or building a car company from scratch?
“Who are these companies raising money online?” read the email in my inbox yesterday. “Can’t they raise money the old-fashioned way?” Over the last few weeks, we’ve received several emails at Crowdability asking similar questions.
The cheerful stewardess on my red-eye to Argentina was delivering her pre-flight speech. Her soothing voice washed over me as I sat in a window seat, reading a business plan for a technology start-up on my laptop.
Last Thursday morning, as I was browsing headlines on The New York Times , I saw an article entitled, “Which Start-Up Could Be the Next Big Thing?” That’s a serious newspaper and an exciting topic. Coffee in my left hand, mouse in my right, I clicked on through.
Slipping a tight blazer over his tee-shirt, the entrepreneur bounded onto the stage. He glowed with confidence as he presented the vision for “Qwiki,” his technology start-up: Qwiki would automatically create short videos on search terms like Albert Einstein orLady Gaga.