Gonzo products the strange impact of crowdfunding in the internet of things. @iotwatch / @GNLteam

CEO of Tinker London 2007-2010

Good Night Lamp 2012-

designswarm 2011-

When we embed connectivity in everyday objects. What happens when those objects are designed with an understanding of the affordances of the web.

What is the internet of things?

Defensive innovation

Careful innovation

Gonzo innovation

A product designed without claims of being realistically produced or on budget.

What is a Gonzo product?

Starts on crowdfunding site Low goal Pivoting every 6 months “Lean”

What is a Gonzo product?

Air quality Egg

Green Goose products

Seed / Grants Incubators

Crowdfunding

VCs

Angels

Exit

What you actually need

0 50K 100K 500K 1M

Raising money

0 50K 100K 500K 1M

Once in a blue moon

Crowdfunding

0 50K 100K 500K 1M

Which really means

Crowdfunding

Seed / Grants Crowdfunding

VCs

Angels

You no longer own your company

0 5 10 20 50

Incubators

Ownership

%age owned by founders

Botanicalls, 2009

Easybloom, Parrot, Koubachi, Moistly

Japan Geiger Maps, 2012

A product people buy, use, eventually discard. A product that has defensible IP. A product you know how to make after years of tweaking.

A real MVP is

Crowdfunding is a terrible replacement for real investment. Fill the knowledge gap between large corporations & startups. Treat projects & businesses differently. Investors shouldn’t be in the driving seat, customers should.

Gonzo products the strange role of crowdfunding in the internet of things. @iotwatch / @GNLteam