Sunday, June 5, 2016

The quadcopter that wasn't; Zano

https://medium.com/kickstarter/how-zano-raised-millions-on-kickstarter-and-left-backers-with-nearly-nothing-85c0abe4a6cb#.r9ow3f9mz

"They reported that drones would repeatedly “bunny hop”’ a few centimetres in the air before landing again, or veer off wildly to crash into walls. Video quality was dreadful, and there was no sign of even basic obstacle avoidance or gesture control, let alone fully autonomous flight. In mid-October 2015, already months late, Torquing again pushed back delivery for the bulk of the Kickstarter rewards to as far off as February 2016.
On 18 November, the axe fell. Torquing announced via a Kickstarter update that it was entering a creditor’s voluntary liquidation, the UK equivalent roughly of an American “Chapter 7” bankruptcy filing. It appointed a liquidator who would bring its business operations to a close and attempt to sell the company’s remaining assets to pay its outstanding bills. Legal documents show that Torquing had not only burned through the £2.5m from its Kickstarter campaign, it had run up another £1m in debt. It was Kickstarter’s most spectacular flame-out to date."

Things that are too good to be true probably are too good to be true.

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