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Welcome To GROUP 5 Net 205 Assignment 2 - Kickstarter & eCommerce media type="file" key="Team5slideshow.swf" width="593" height="593"

 = What is the fundamental economic basis of internet commerce? = Team 5 have chosen Kickstarter
 * Home Page ** (Andrea & Volker)
 * Outline of Assignment 2 –** summary of project (to be deleted once feedback received from Rich)

What is internet commerce (e-commerce)? Overview of all sections How they were founded? Their purpose, mission,etc.. Success stories, failures - Analysis? Group produced video showcasing Kickstarter success stories. (Andrea & Theresa) Social consequences?
 * Introduction**
 * Kickstarter Background** (History)
 * Internet Commerce ** (Theresa)

- Internet Commerce concepts (using Amazon, Google & Ebay as examples) - Its humble beginnings -Structure & Flow - Explanation of how kickstarter fits into the world of online commerce
 * Internet Commerce Overview **

- //QUOTE -// “combined with the low cost and easy-to-use social media technology platform, crowdsourcing is //diversifying// sourcing mechanisms, //creating// new markets and/or //overriding// the market share of traditional businesses by managing the scale of online communities in a flexible way for performing different tasks of varying levels of complexity” (Saxton, Oh &Kishore, 2010, p28)
 * Comparison Of Internet Commerce As Opposed To Traditional Commerce **

Brief description showing h ow Kickstarter works as an intermediatory between artists and the community This type of crowdfunding relies heavily on the distribution of equity or debt amongst investors. The idea essentially helps businesses to raise capital through means of selling shares or part ownership of their business. More over it is a way for investors of a project / business to potentially obtain a financial return on their investment. This model relies on donations from crowd funders. In return, the funders can expect some kind of reward based around the product or service**.** **//.... To be expanded upon.... //** Crowdfunding Flowchart - I will be designing an original flowchart to demonstrate equity based crowdfunding as opposed to reward based crowdfunding. Using statistics mainly from the articles ‘Crowd-funded venture capitalism’ and ‘Individual Crowdfunding practices’ for making graph /charts which will demonstrate the success of various Crowdfunding models and their values.
 * //<span style="color: #808080; font-family: 'Calibri','sans-serif'; font-size: 11pt;">Comparison Table to be inserted here //**
 * Crowdfunding Business Models **
 * <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">- Equity based Crowdfunding Model (Investment Based Funding) **
 * //<span style="color: #808080; font-family: 'Calibri','sans-serif'; font-size: 11pt;">Examples from real life projects to be inserted here. //**
 * <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">- Reward based Crowdfunding Model (Donation Based Funding) **
 * //<span style="color: #808080; font-family: 'Calibri','sans-serif'; font-size: 11pt;">Examples from real life projects to be inserted here. //**
 * Flowchart Of Models **
 * <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">Analysis And Comparisons Of Models **
 * //<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">Example of Models and their Values – //**<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">Image Courtesy of Glenn Peoples, 2013, ‘Crowd-funded venturecapitalism’, Retrieved from Billboard.com
 * <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">Swot Analysis Of The Kickstarter Model - ****//<span style="color: #808080; font-family: 'Calibri','sans-serif'; font-size: 11pt;">Team Contribution //**

<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">Kickstarter projects and the opportunity for donators to reap the rewards of success through networked contribution. <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">PRETAIL: The term currently used to define online crowdfunding networks and the way in which they now consume goods and services. It is the era of ‘pre-consumers’ where people now have the opportunity to buy products and services in advance, ahead of time, via crowdfunding participation. (Luzar, 2013). **<span style="color: #943634; font-family: 'Arial','sans-serif'; font-size: 16pt;">Network Economy ** <span style="color: #17375e; font-family: 'Arial','sans-serif';">(Irene) <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">Benkler; Wealth of Networks (2006) - have to read this; Benkler is focused on the democratic and participatory potential for individual as well as peer to peer and community production; “each project attracted 1700 crowdfunders on average” (Belleflamme, et.al.,2010, p.7) **Kickstarter and Network Economy** <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">“CF is to tap and motivate a large audience, with each individual member of the crowd contributing only little, but with a high combined impact” (Lehner, 2013, p.4) ‘it is not only the material capital, but very much also the cultural capital that a project is able to accumulate” determining whether the project gets off the ground and fundamentally succeeds. (Sorensen, 2012, p.741) **Kickstarter & Politics** <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">Political economy – this ‘situating’ operates from the fundamental premise that within any economy, there is a system of (re)distribution, and this (re)distribution is always political’ (Leszczynski, A. 2012, p.73) Discussing the political aspects of crowd funding; Jenkins and Benkler’s “theories about the implications of interaction user participation and convergence for media industries and their brands have provided inspiration for think about both the ‘social aspects and macroeconomic implications of Web2.0” (Sorensen, 2012, p.729) “peer effects and recommendations, not network externalities are driving the success of crowdfunded projects” (Sorensen, 2012, p.729) “Senate Bill 1970” was adjusted to cover crowdfunding to include a “the new crowdfunding exemption is conditioned on mandated disclosures that gives investors the opportunity to evaluate the merits of investments” (Hazen, 2012, p.1769) **<span style="color: #943634; font-family: 'Arial','sans-serif'; font-size: 16pt;">Attention Economy ** <span style="color: #17375e; font-family: 'Arial','sans-serif';">(Jelena)
 * <span style="background: none repeat scroll 0% 0% #d9d9d9; font-family: 'Calibri','sans-serif'; font-size: 11pt;">Long Tail Effect **
 * //<span style="color: #808080; font-family: 'Calibri','sans-serif'; font-size: 11pt;">Case study - Examples to be inserted here //**
 * //<span style="color: #808080; font-family: 'Calibri','sans-serif'; font-size: 11pt;">Further expansion on Pretail and examples to be inserted here //**
 * Introduction to Network Economy**
 * What is Network Economy**?

**History of Attention Economy**

**What is Attention Economy?** APA 6th Ed. A2 outline states: we can hyperlink reference to APA reference list - We will have a page on Wikispace specifically for Reference list, all references in the assignment to be hyperlinked to this page. **<span style="color: #943634; font-family: 'Arial','sans-serif'; font-size: 16pt;">Useful Link page **<span style="color: #17375e; font-family: 'Arial','sans-serif';">(All) Interesting and helpful links, resources and additional information will be posted/hyperlinked here.
 * Kickstarter and Attention Economy**
 * <span style="color: #943634; font-family: 'Arial','sans-serif'; font-size: 16pt;">Reference Page **<span style="color: #17375e; font-family: 'Arial','sans-serif';">(All)

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