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This book is a GREAT intro to the world of crowdfunding and there’s a new one on the way

John Lewis, a long-time fighter of crimes against the gullible, wrote this gem in 2017. Get it and prepare for another book later this year.
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It’s almost insane, the number of times people fall for crowdfunding gigs.

Despite the warnings from those of us—yes, us; there’s an army of people warning against crowdfunding; the troops are just slightly scattered—people keep pumping their hard earned money into the cesspool that is crowdfunding.

Am I justified in generalizing? Unfortunately it seems I am.

I’m not saying all crowdfunding will milk you, but there are way more cows in this corral than is necessary.

John Lewis is a man I ran into online a few years ago. It was back in the day when I was still on Facebook.

It wasn’t long before we started chatting. We had much in common, after all. Both of us had a healthy disdain for crooked crowdfunding.

John, in fact, more so than I. So much so that he builds a large part of his life around it.

John’s warning video on the Scorkl diving nightmare received a slew of negativity, only to be justified by time. Here’s the vid…

John was a qualified diver back in his day, so when he posts concerns about this sort of farce, it’s wise to listen. Many didn’t.

John also wrote a book about crowdfunding failures. I happily bought it. It was a great refresher on why it’s important to speak up against crudfunding [sic].

Why did John write the book?

Why did John get into the game of uncovering scam crowdfunding?

The truth is simple. Here it is from this book of his.

My interest in scams – particularly Internet scams – came about when I noticed not only how popular crowdfunding sites were becoming on the Internet, but also how ridiculous some of the items being crowd funded were. There were things that could be easily found elsewhere for less and for immediate delivery (as opposed to waiting for a crowdfunder to manufacture and ship). Others were simply comically ridiculous ideas if you had even a smidgen of technical knowledge and learning.

Lewis, John. Scams, Flops and Failures: Crowdfunding They Never Warned You About . Kindle Edition.

In other words, if you can Google, you’ll probably think twice before investing in just any old crowdfunding project.

How do crowdfunding scams work?

It stands to reason if you want to avoid something, you’d better be sure what that something looks like.

That’s why John’s book kicks off with a chapter explaining how the crowdfunding underworld operates to sucker people into parting with their cash.

John explains how crowdfunding is supposed to work like a company selling stock, but that it doesn’t…

While this sounds very much like what people do when they buy stock in a company there are none of the safeguards in place in a CF transaction.

Lewis, John. Scams, Flops and Failures: Crowdfunding They Never Warned You About . Kindle Edition.

“But surely SOMEONE must be brought to account! This us utter madness,” I hear a gentleman shouting from the back.

There are none, unfortunately. Unfortunately for the backers; fortunately for the crowdfunding platforms and crowdfunding scammers.

The hired guns

Who are the people driving the clicks that drive the backers with the money?

John’s book reveals who they are, what their job is and why you’re just a number to them.

Even if you’re careful to the nth degree and do your research, this marketing machine is clever enough to trample over your every effort to steer clear of crowdfunding calamity.

Equity crowdfunding

John spends a little time explaining equity crowdfunding, then a new kid on the block.

And although the concept is far from illegal or even dishonest, the crooked human element turns equity crowdfunding into a vacuum machine, sucking up money to be spent on piña coladas on a far-off Mexican beach once backers have backed off from complaining about their money having been stolen.

What can override reason and common sense?

What is it that can make a grown man turn into a six-year-old boy who wants something from the toy section so bad he’s willing to throw all of mommy’s stuff out of her trolley?

In chapter two, Ringing in Money, John explains the powerful drug that can override the soundest of thinkers and that thing called common sense, which is not so common after all.

Major crowdfunding scams covered in the book

John takes a deeper look at more than 20 crowdfunding projects that were nothing more than money pits.

That’s an astounding number of crowdfunding failures; enough to keep me away from Kickstarter and Indiegogo for a long time!

Some of these cruddy campaigns raked in hundreds of thousands of dollars, then disappeared like a burp in the wind.

One, the BioRing, made claims so ridiculous people wanted to believe them. And so they pumped money into this ring, which ended up burning them harder than a Johnny Cash song.

And that’s just one of the futuristic failures formulated to funk up our fun.

Does the madness end?

In his chapter, Since Publication, John touches on some of the brazen companies who just won’t die.

They hop from one platform to another, maybe updating some of their info, but always standing ready with a dessert spoon, ready to scoop up your cash.

Folks, if someone wants your money, they’ll tell any lie to get it.

Get the book

If you’re new to the world of crowdfunding this book is a great intro into the mucky underbelly.

If you were suckered into hoping and dreaming a little too far into the future, this book will show you that the marketing behind crowdfunding scams are often driven by PR and marketing experts who know EXACTLY which buttons to press, when.

In other words, you didn’t stand a chance.

You’ll also see that the number of people who fall for crowdfunding flops is scary high.

Buy Scams, Flops and Failures: Crowdfunding They Never Warned You About for Kindle now, sit back and be stupefied.

Connect with John

If you’d like to know when his new book is launched, connect with John on LinkedIn:

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