Kickstarter: Perry Chen (2018)
Perry Chen, co-founder of Kickstarter, explains how the platform evolved from a 2002 idea about funding creative projects to its 2009 launch, emphasizing the 8-year development period and the decision to remain a public benefit corporation rather than pursuing aggressive venture capital growth. He details the platform's 5% fee structure, the strategic decision to implement stricter review processes for physical product campaigns to manage backer expectations, and the milestone of surpassing $3 billion in pledges. The episode also features a postscript on Dustin Hogard, who co-designed the Wazoo survival belt, discussing the challenges of custom manufacturing miniature components and fulfilling a Kickstarter campaign that raised over $100,000.