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The Myth of Funding Early

Just to get the obvious bits out of the way first, I’m not saying that funding early is impossible or that it’s a bad thing when it happens. However, I have a real problem with the idea that funding early is any kind of a necessity, something to be aimed for or something to cancel over if it doesn’t happen, all of which are ideas that I hear with depressing regularity and are by degrees untrue, unhelpful, non-sensical or downright pernicious. I’ve mentioned this in bits and pieces of previous blogs, but is something that I’ve seen so often and is so damaging that I thought I should write a whole specific blog about it. So here it is.

Oxymoronic Tautology

It seems a pretty safe position to take, that funding in the first 48 hours is a good thing, and obviously it is, no-one is denying that. If it occurs based upon a good campaign taking off well then that’s a fantastic thing. But it doesn’t have some sort of magical quality beneficial beyond its inherent usefulness. Let me put it another way, the point that is often made is that every project that ever funded big also funded fast, and that’s true, that’s pretty much a tautology. But it doesn’t follow that every project that ever funded fast funded big, because if that were true it would follow that every project with a small goal went on to make big money, and while that’s not exactly an oxymoron, its certainly not true. Setting a $1 goal, or dumping $10k of your own money into a campaign two hours after launch won’t magically make it fund bigger than would have done otherwise. If anything, qui