Ah, an article and a viewpoint after our very own FintekNews thinking and style. Crowdfunding is “total BS” certainly caught our attention and got us to read a great piece AND found out BS is…….Behavioral Science. Very interesting and VERY cool writing. (Bill Taylor/CEO)
“Warning: mature content.
“The more cashless our society becomes, the more our moral compass slips.”
― Dan Ariely
Happy New Era, my fellow entrepreneurs, and next generation financiers!
In a world of dramatically accelerating technological, social and economic changes, it is clear we are heading into a time where you might want to design your own everyday business education. And quite possibly also follow your very own moral compass. For those who wonder, that is a “natural feeling that makes people know what is right and wrong and how they should behave,” as defined by the Cambridge dictionary (we still can trust dictionaries, right?).
Why am I bringing up the moral question in this piece? Because I am realizing that too many of us, equity crowdfunding evangelists or “pioneers” have lost our way romanticizing this financing tool as if it were the fifth element which would save humanity.
No, it won’t – but a moral compass will.
So, I’ve decided to bridge the gap between over-hype and reality by reminding you that equity crowdfunding is a highly complex process which is based first and foremost on BS (Behavioral Science) as when it comes to launching and financing new ventures, we all have social, cognitive, and emotional biases. One might think – this is where excitement prevails and valuations and investment risks are traded for acquiring a sense of purpose and belonging. Well, hold this thought.
My key points and sources to help educate yourself further are below.
Equity crowdfunding 2017 comes in all shapes and sizes
Fundamentally, as of now, we have four types of equity crowdfunding….”
Read Full Article by Victoria Silchenko, PhD at LinkedinPulse