To not want to "invest" in people's startups on crowdcube

[DeepaBeesKit]

Going through my thirties I've started getting more and more pleas via social media/email to "invest" in people's start ups. None of them are original. They have crap business plans with no numbers etc, can be easily copied by anyone else, require no unique skills/experience. These come from anyone from old school/uni people, former colleagues, friends of friends etc. Some will ask repeatedly.

AIBU to wonder when it became socially acceptable to just beg for money from mates and call it "business funding"? Most of these crowdcube things you lose your money, it's a terrible investment. Why does everyone suddenly think they are an entrepreneur?

Just say no once and then ignore.

Yes thank you I do that but was wondering if it gives other people the rage at the brass neck of it too

Yes - them and the 'go fund me ' pleas that seem to come up for everything now days too!!

And the media should also ban using the team 'side hussle'. :/

Agree it’s annoying.

I've never seen these! What !re they inventing?

Kickstarter is great though. I was very dubious but DH recently raised £13.5k on his last campaign which is selling a certain product (so people get a physical item) He’s also bought from there and our next item is being handmade and will be ready in November 2022, can’t wait. I would never support GoFund Me though where everyone seems to want a boob job or something

Yes, it does. I've come across a few mind that haven't got that far, they will have wonderful ideas about how a business should be run but when the opportunity arises they don't have the balls to put their money where their mouth is and give it a go.
I did put my money where my mouth is though, I took the financial risk, I did try my hand at it and it did work. So I don't like it because it seems like they are taking the risk with other people's money and it's a bit spineless, more so than having the grand ideas but just not wanting to actually commit.
I do know of someone asking for money though but they have been doing the business on a small scale for a few years making steady progress and the business expansion has a sound, proven track record. So there are occasions where asking for money is ok.

The requests don't usually bother me. If they want me to like their page, I do (as long as I don't fundamentally disagree with the business) and immediately unfollow so I don't get thousands of updates. I would never invest any money in them though.

@omgithinkilikeyou

That's just it, they aren't even making anything!
Recent examples:

• bulk buying herbs and spices and selling mixtures in small tins at ludicrous markup
• bulk buying cheap wholesale sweets and selling on 500g mixed bags
• an app which did something there were already about 50 apps for already
• an app & website for booking kids activities (charging activity providers a markup)

Nearly all are what I would call "middleman" services, where by they are not the person creating anything of value, nor providing the useful service, their presence taking out a profit simply either makes prices more expensive or reduces the amount earned by the people actually doing stuff

Had a friend who asked me to donate, not invest in her business. Needless to say I said no (had more disposable income than I did for a start). Ended up ghosting them

• I do know of someone asking for money though but they have been doing the business on a small scale for a few years making steady progress and the business expansion has a sound, proven track record. So there are occasions where asking for money is ok."

Totally agree with this but even then on crowdcube etc these seem wildly overvalued. A friend had a decent little business and was looking to grow it but when she did the crowdcube honestly the equity you got for your investment valued her tiny business well into the 10s of millions. The business has done well but not in the sense of actually making meaningful returns for the people who invested.

Yes, this annoys me. I've taken risks over the years setting up businesses, and each time it's paid off, fortunately. But I know people look at me and think it's been easy, and are envious, but it's been bloody hard work!

A local papershop was recently absolutely slated online because they were crowdfunding for a new POS system! I was embarrassed for them

Bigyellowhat yes DH buys games on kickstarter, I view that a bit differently as it's essentially just an advance order system so you can judge if you are happy with what you get for the money. The games DH buys seem to be priced comparatively to a game you can buy elsewhere, just with a bit of a wait.

Yah every boss babe and her bestie down here has a Kickstarter for some stupid thing or other. Latest one was DPs mate trying to set up a business importing "superfood powders" which, after a five minute google, turn out to have been linked to miscarriages.

If you don’t ask you don’t get.

You can always just ignore it.

Lady campanaula an odd request I wouldn't mind but my inbox gets deluged with this shite. It comes via linkedin, facebook, regular old email, whatsapp groups.... the sheer entitlement of some of the requests is unbelievable. If you want money go earn it for yourself, or if you want business investment, offer up equity equivalent to something actually approaching a reasonable value of the business!

09:06HangingOver

What's the super food that causes miscarriages?