When crowds play god: a Promethean perspective on crowdfunding

• Published in: European journal of information systems Vol. 31; no. 2; pp. 207 - 226
• Main Authors: Conboy, Kieran, Gleasure, Rob, Morgan, Lorraine
• Format: Journal Article
• Language: English
• Published: Taylor & Francis 04.03.2022
• Subjects: Brian Pentland; Crowdfunding; dialectic; Kickstarter; Michael Myers; myth; Prometheus
• ISSN: 0960-085X; 1476-9344
• DOI: 10.1080/0960085X.2020.1860655

Crowdfunding projects have been the subject of contrasting narratives. To many, they are the antithesis of predatory bottom-line business ventures, and to others, they are an under-regulated vehicle for immature, or unscrupulous project owners to exploit inexperienced and vulnerable investors. These differences are significant, given many use crowdfunding to build public awareness and project a positive image. We use the myth of Prometheus - the Greek god associated with "defiant progress" and technological advancement - as a sensitising lens to build a set of competing, dialectic archetypes. We then apply these archetypes through a Hegelian dialectic analysis of three high-profile crowdfunding campaigns. The overarching contribution of the study is that it provides a foundation for discussion of the positive and negative narratives surrounding crowdfunded project owners and explicates the limitations of crowdfunding as an enabler of positive systemic change. The dialectic approach provides a systematic means of identifying the essence of disagreement between narratives. While it may be too early to predict the outcomes for emerging technology-driven initiatives such as crowdfunding, the use of myth offers a sophisticated means to look for "rhyming" phenomena, where the phenomena at play are similar to the grand frailties of humankind throughout history.