The whole idea of crowdfunding is dynamic, and as mentioned earlier, some studies focus on the motivation of financier in crowdfunding process. Innovation has a big part to play in the financing process, but this does not mean that it is the sole reason. Understanding some of the ...
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... may provide more than the necessary funds for entrepreneurs (Young 2013). This is because conventional funding sources such as banks and angel investors are limited sufficient funds based on the budget that is typically on the business plan. As for crowdfunding, there is a dilemma since financiers contribute the funds for myriad reasons, making it possible for entrepreneurs to be overfunded. The moral problem goes beyond overfunding and touches on the issue of information asymmetry where financiers are provided with little or inadequate information on the nature of the startup and valuation as they contribute their funds (Young 2013). Another pitfall for crowdfunding, especially for those who are motivated to gain equity, is that they do not have sufficient time to make the right investment judgment. This sometimes leads to overfunding or wrong investment.
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