What's the real-world problem App.net solves? I'm not being cynical, just curious. If I back the project, I want to know the pain point I'm solving and if it's a pain point that actually is worth solving versus something else. The other question I have is, who's the market? People are using the HN vs. Reddit comparison, but HN is about as niche as it gets and also doesn't really do much other than provide a place for us to share some data. Muggles don't usually visit HN and I'm wondering if they'd have a need for App.net.
I'm considering backing it, but like all investments, there's some due diligence involved. There's also the opportunity cost for the money that should be considered. I'm also wondering why kickstarter is appropriate as opposed to traditional VC and seed funds. If there's a sustainable business there, it would seem like the App.net team would have a very easy time raising money -- they seem competent, capable and passionate (at least enough to warrant a small seed round.)