Philips has a net worth in the billions, $20.67 billion as of July 12, 2023. (Source link) Yet they decided to create a kickstarter, charging “early bird” buyers these earphones that’s designed for wearing while sleeping, basically the same as any other earphones, just slimmed down and cables running around your head.
What’s infuriating is that there’s dumbasses who actually gave them money to make a product ($500k million in total), so Philips is most likely not taking any risk making this, but will enjoy the profits.
The kickstarter - https://www.kickstarter.com/projects/kokoon/sleep-headphones/posts
I thought the whole point of a kickstarter was people with a product, but lacking the funds to get the project actually going getting a kick start to get going… Not for billion dollar companies to beg for cash.
Philips can afford to take a chance on a product and risk losing money much better than regular people suffering from the combination of runaway inflation mostly caused by corporate greed and stagnant wages can.
Of course they can, but why should they? There’s nothing to lose for them (or anyone really) if they crowdfund it instead. It’s essentially a preorder and market research.
Like, you wouldn’t catch me dead paying into it but there’s nothing wrong with this strategy, until they steal the money and run, which they won’t because companies care about PR more than KS scammers do.
But why should they take a chance? You’re saying that like it’s surprising but I don’t think it’s unethical
If anyone should take a chance, it’s the ones with vast resources that are increased by billions every quarter, not the people alreeady struggling to get by.
When you launch a product, there’s always a risk that it won’t be successful and offloading that risk on people who can’t afford it anywhere near as easily as you can while keeping all the profits if it succeeds is as unethical as consumer banks gambling with people’s life savings and then being bailed out at the expense of the same people they bankrupted.
They are protected from losses by their existing profitable market share ( in the billions) so it is unethical to use a tool created to help negate risk for those without the safety of an existing profitable market. There is an immense privilege in being the current dominant party in a market, and we live in a world that has put laws in place to protect companies who become the dominant party in a market instead of laws that equalize the market.
If we were all playing this game as kids, what phillips is doing would be seen as totally unfair, so why is it okay now that we are adults?
Phillips CAN, but in a large organization like that there are a lot of politics going on.
Let’s say, for the sake of argument, that this is someone’s pet project, but they can’t get funding for it because the higher ups don’t see there’s any interest in it…
“Well I’ll prove there’s interest!” (funded in 1 hour).
