Tuesday, March 4, 2008

Crowdfund A Bum All The Way To Forbes

So there are quite a few crowdfunding initiatives out there... From crowdfunded TV production companies to soccer teams, it's by no means a brand new trend. The process of co-creating, co-funding, co-buying, co-designing, co-managing anything with 'crowds' is tailored for the online age where seemingly impossible goals are turned into reality right before your eyes.

Another fantastic example illustrating the power of crowdfunding is that of "Bumllionaire".

The website calls for contributions, at a minimum of $1, to help turn a street vagrant into a member of the elite Forbes Billionaires' list by next year. Also featured on the site are various video updates on the vagrant, named Guy Ritchie, as well as a running tally on how much donations he has received. An interesting initiative, and it would be fantastic to see the pace of donations accelerate as the target of $1 billion draws closer...