Trigger trap ADA has failed

Wow, i would be a bit miffed if they took my money and just decided to give up.
 
They don't take people's money, Rob, people decide whether to invest in the project in the same way that people decide whether to invest in stocks and shares. Once it is clear that the project can't be completed within the remit then they have to abandon it. They could have continued until all the funds had expired but took the decision to stop whilst there was something left to refund to backers...a better option for all concerned.

I'm sure that many will be disappointed but if there are backers who are "miffed" then they didn't understand and accept the risks (IMHO).

Bob
 
From what i have read of the t&c there supposed to refund if the project goes belly up. They said they are keeping the prototypes and making available the specs and software as open source, it should all be sold and given to the backers. Also the company TriggerTrap are still a profit making company so should refund even if it means going belly up.
 
I stand corrected, Rob. If the T&C's specify a full refund then I'm sure that litigation will follow (especially as the company is still trading).

Bob
 
It says a refund, no mention of partial or full. But without it saying specifically i think that opens them up. I just find it odd how the company can remain while lots of people have lost money surely the company should take the hit first. Was only a month or so ago they were saying it will be shipping in May.
 
The details of what people signed up for are contained in the Kickstarter T&C's.......

If a creator is unable to complete their project and fulfill rewards, they’ve failed to live up to the basic obligations of this agreement. To right this, they must make every reasonable effort to find another way of bringing the project to the best possible conclusion for backers. A creator in this position has only remedied the situation and met their obligations to backers if:


  • they post an update that explains what work has been done, how funds were used, and what prevents them from finishing the project as planned;
  • they work diligently and in good faith to bring the project to the best possible conclusion in a time frame that’s communicated to backers;
  • they’re able to demonstrate that they’ve used funds appropriately and made every reasonable effort to complete the project as promised;
  • they’ve been honest, and have made no material misrepresentations in their communication to backers; and
  • they offer to return any remaining funds to backers who have not received their reward (in proportion to the amounts pledged), or else explain how those funds will be used to complete the project in some alternate form.
Some Kickstarter projects are low or zero risk and are only set up to ensure a production run of sufficient volume to keep costs affordable....like the Lomo project or Dennis Ivanchek's Petzval production (I have one of the lenses). Funding actual development clearly has a risk associated with the investment.

Bob
 
They're the new terms as of last year the project started under these terms.

https://www.kickstarter.com/terms-of-use/oct2012?country=GB
  • Project Creators are required to fulfill all rewards of their successful fundraising campaigns or refund any Backer whose reward they do not or cannot fulfill.

Can you see where people are coming from now, they added the remaining fund bit later on. The aplicible terms just state refund.
 
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I can see that this may get complicated as some of the later investors may well be on different terms to the original bunch.

However, in the original terms...

The Company reserves the right, at its sole discretion, to modify or replace these Terms of Use by posting the updated terms on the Site. It is your responsibility to check the Terms of Use periodically for changes.

Bob
 
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While it's going to be disappointing for those that helped fund the project, if someone pays money to a kickstarter to assist with the development of a project and a proportion of that money is used during the development then how can a full refund realistically be expected to be given ?

The sooner people realise that kickstarter isn't a retail shop where they're preordering stuff the better their blood pressure will be.
 
stu.artd said:
While it's going to be disappointing for those that helped fund the project, if someone pays money to a kickstarter to assist with the development of a project and a proportion of that money is used during the development then how can a full refund realistically be expected to be given ?

The sooner people realise that kickstarter isn't a retail shop where they're preordering stuff the better their blood pressure will be.
Click to expand...

Well said that man :agree:
 
Such a shame to read that, fan of the products as I've a TTv1 (predecessor to the Ada) and the mobile dongles, but reading through it sounds like costs spiralled even worse than they'd done with the original TTv1 project, which eventually hit the stores at twice the intended price point.
 
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