Curious about that heavily hyped new bracelet that promises to turn your arm into a smartscreen? Many fund-raising campaigns promise outcomes that sound and look too good to be true. In comparison to current technology, the Cicret (pronounced ‘secret’) bracelet just may be that kind of empty promise. The Cicret bracelet is a revolutionary product that projects a smartphone-like screen onto your skin – any color skin even in bright light. Hmm… That would be something. It’s a great idea but will it work? CAN it work? And if so, why would you need the public to fund it when tech companies would jump at this?
Over a HALF A MILLION dollars of donations have been collected for a product that didn’t even have a decent prototype. The prototype they have now is not very impressive. The great Captain Disillusion has produced another video that looks behind the CGI-generated promotion that resulted in a big bucks consumer buy-in of what could end up as vaporware. There are no guarantees this will eventually be a valuable product. The details for this campaign have been changing, and we would bet that the final delivered product is not going to fulfill the high-quality device promised and hyped, there are too many tech hurdles to overcome. Check it out for yourself:
There is one SUBSTANTIAL take away from this video. The Cicret company is not using a crowdfunding site to finance their product, bypassing those sites’ consumer protection against misrepresented products and fraud, getting $512,000 in NON-REFUNDABLE contributions directly. It will be curious to see where this goes…
Be very wary of crowdfunding projects that don’t pass a sniff test and may be total bullshit – called “scampaigns” – especially ones without some kind of guarantee. In 2014, contributors to a new smartwatch idea ended up funding some kid’s new Ferrari. There is little to stop the promoter from take the cash and taking off. At least now regulators are cracking down. But being smart is better than being inconvenienced, or worse, being really sorry you fell for it. If you really want to throw some money and good wishes at such campaigns, here is some essential advice to follow.
But most importantly: Be Skeptical! If you have some extra cash hanging around to contribute to a worthy cause – give it to Captain D, he never disappoints.