An op-ed piece by a millennial suggests that the reason that generation has turned to crowdfunding is because of the “breakdown in the social safety net.”
It is posited that they have responded to the financial crisis with “community support, connectivity and responsibility” using social media to create a new economy where they help each other.
Fighting the stigma of selfishness, the author argues that, in fact, most believe in “social capital” and wealth re-distribution. Perhaps it was a slip of the tongue when she noted that she “earned” money from donors.
And the publisher rounded out the story by asking for funding from its readers. An interesting take on crowdfunding.