Earlier quoted context omitted.
And this is the single biggest weakness of the Kickstarter model. Ideas are 'easy', execution is 'hard.' That is why investors are very diligent in vetting the team behind the idea, since ultimately the best idea in the world is not worth the napkin it is drawn on, if the people responsible for it cannot realize it.
I'm not sure I follow that. Is it a weakness of the model to fund "bad" projects from money that in the previous regime would never have gone to "good" projects? It's not from Kickstarter's point of view, obviously; they get paid. Ditto for the projects themselves. The members of the public who are "investing" are obviously accepting risk. And I think it's reasonable to argue that the per-dollar risk is higher for th…
Inexperienced investors invest in the idea.
Experienced investors invest in the team.
The Kickstarter model opens up a source of funding for lots of new people, and it enables people who could not (or had not) previously invested in those people. That creates an environment which is exceptionally prone to failure. The education process will be a harsh. Because people rarely blame themselves for not thinking about the problem correctly they will start blaming Kickstarter, or the teams, and some of those people will do great harm to the system that is helping people do stuff they couldn't do before. That is why I think it is a weakness of the model, it doesn't surface the root causes of failure easily.