TonusOH like an advance, if you were working with a publisher. The difference being that the investors don't recoup this advance; they are doing it specifically to support the author. I like the concept, it helps creators get around the gates put up by publishers and industries to maintain control of a product they don't actually create.
not well regulated, so people need to be smart and cautious when deciding where to spend money.
Yes I've supported an author that way but the money I put up was basically the value of the book, a copy of which I received when it was published. So basically it's an advance you provide the author - one they wouldn't get from a publisher. Thoroughly enjoyed the book as did my son who is a history nerd.
So nothing like Lloyds situation, whereby people donated to his Indigogo of £25,000 but still had to buy the book.
Then for the second, he had the nerve to rip off Neil The Great Apostate's book AND charge people for the pleasure.