What happens when you back a cool new gadget on Kickstarter, but the entrepreneur fails to come through with the finished product? Crowdfunding gathers what are essentially donations. If a product is late or if the concept fails, backers are simply out of luck. An entrepreneur has started a new crowdfunding platform, named Christie Street, designed for use by ventures which create finished gadgets, and which incorporates an element of due diligence.
Full story here: http://www.wired.com/design/2012/12/christie-street-crowdfunding/