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Where Did Crowdfunding Really Originate? Not on Kickstarter

Where Did Crowdfunding Really Originate? Not on Kickstarter

We assume that crowd funding first appeared when Kickstarter
launched five years ago. We may be wrong. 

You see, the cable television
business invented crowd funding a long time ago, when they created the basic
cable bundle.

The basic cable bundle is really a work of genius. Charge
every cable subscriber for each channel that comes with the basic cable bundle
even if they never watch it. So the crowd funds all the channels in basic
cable. We all get to participate. Think of it as democracy — without the right to
vote.

And the genius of the bundle does not stop there. The subscriber has no idea what they pay for
each channel because they are sold on the notion that they get such a great
deal with the basic package it does not matter.

The implied logic is as follows: if each channel was not in
the bundle — some channel you really love would be much too expensive and beyond
your reach. At least that is the sales pitch.

So the crowd funds the basic cable bundle but has no idea
how its money is spent.

Read the rest of this article over at Digital Dorr.

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