Re: On the other hand
Well, despite my earlier outrage, I'm afraid I must agree, to an extent. Indiegogo has more in common with Ladbrokes than eBay. It's venture funding, not retail.
The problem is the crowdfunders' false expectations, compounded by unclear terms and legalese, and the typical crowdfunder's lack of experience with the process.
In all seriousness, I think crowdfunding sites ought to be presented and regulated more like gambling operations, and the fact that you are essentially placing a bet that may not pay off should be emblazoned in flashing neon lights across the front page. Once it's clear that the only legal obligation the jockey you're backing has is to attempt to win, without any actual guarantee that the horse will even cross the finish line, then cases like these would probably never even come to court in the first place.
However, in this case it seems the jockey never even mounted his horse, or even had a horse to begin with, he just took the money and ran, so I think it's only right that his backers should be refunded, as the race you were betting on never actually took place.
Biting the hand that feeds IT
