Just as “social networking” is a bland term that doesn’t really capture what happens on social networking platforms, “crowdfunding” is a broader phenomenon than what the term implies. It’s about “pretail” – the next evolution in commerce, which involves the ability to suss out demand before production and sell directly to consumers (like Tesla most recently did with its Model 3 pre-orders). And it’s also about “social commerce” – the ability to not only build community, but trigger collective action towards buying.
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