Why would you spend two million of your own money, or go get a loan that has to be paid back, when you can get it for free from KS, no strings attached? If they did a bank loan, the bank will take all their assets (including homes) in the form of a personal guarantee, if it fails. Is there a KS penalty if the game doesn't ship, or flops? I don't think so.
I understand that they don't want to do something retarded like Schilling did and put up over half of their own net worth into a video game company, but we're not talking about 50 plus million dollars here. If this game is right around a million or so to complete, that should be chump change for these guys that have been in the industry for this long, making the kind of money they've been making.
Except the fact that John Smedley alone is worth $20 million.You would be a fool trying to start a game studio and not using Kickstarter or some other crowdfunding. Lyrical is also correct that the bank will make you put up everything to cover it. No way would they be able to get a regular loan since they have zero income and no way to repay it.
Not gonna donate cause 16 bit pixel nostalgia shit needs to die in a fire.
Not one without putting those assets up unless he has income above a certain debt ratio to repay it. I guess some banks would do it but not many of the big ones. That isn't the point though. Why the fuck would you put your own money on the line when you don't have to?Except the fact that John Smedley alone is worth $20 million.
John Smedley Net Worth | Celebrity Net Worth
800k is pocket change. Can't get an 800k loan on 20 million in assets? Oh ok.
An 800k loan for him would be easier than someone making $75,000 a year and heading to Wells Fargo for a loan on a used 2007 Honda Accord EX.
I personally like the return to pixel art for low budget games. It serves more than nostalgia; it's far, far easier to develop with and monumentally less overhead. There will always be AAA blockbuster games with top-of-the-line graphics.. and it'll cost millions and likely be a sequel.Not gonna donate cause 16 bit pixel nostalgia shit needs to die in a fire.
I hear about this shit every fucking day from my wife who is actually an executive at Wells Fargo. You have to have Income that is reported to the IRS for them to use it in calculating if you can pay the loan off. I have no idea what his income is but assets are just one part of the equation.
#2 Rule. Kickstarter should be illegal and shouldn't be able to be used as a way for those who have means, to not take any risk by using consumer dollars without any way for a consumer to get a return on investment. Want to come out with a product? Take a fucking risk.
I actually agree with this. We are taking the risk of starting up a new business without any of the upside besides maybe getting the game or whatever a little cheaper. Yah, fuck you.
fixed this for you.
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I agree, except I'm not big on regulation, especially when there are fools that attach sentimental value to such things. I haven't seen a KS I'd put money in, but if people want to be the bank, but not make a profit off of the loan, that's their business. No one has a gun pointed to their heads.
