Could crowdfunding change capitalism beyond recognition?
The form of capitalism that we accept in the Anglo-Saxon world has come in for a great deal of criticism in recent years. In their new book, Nine Visions of Capitalism, Charles Hampden-Turner and Fons Trompenaars examine the values underpinning wealth creation and look around the world to see what we can learn from other countries and emerging activities. In this article, they examine crowdfunding, which, although still in its infancy, provides a fascinating new way of translating capitalism's essential values to a new form.
Growing faster than computer power, which doubles every 18 months, according to Moore's law, is the phenomenon of crowdfunding. You offer either rewards (such as a table for eight and a free dinner when the film is premiered) or equity to a 'crowd' of people who read your prospectus on an internet platform, such as Kickstarter, Crowdfunder UK, Bank to the future, Indiegogo, Fundrazr or Gofundme, and if you get the sum you need, you launch your business and are off and away.