Crowdfunding- The Past, Present and Future.

THE PAST, PRESENT AND FUTURE OF CROWD FUNDING.

The idea and practice of crowdfunding has been around for centuries. In the early 17^th Century, public fundraising was used to finance the publishing of books, before they were tangible goods. Later on, in 1885, when the US government was unable to come up with the last US$100,000 they needed to complete the base intended to hold the Statue of Liberty, Joseph Pulitzer, owner of the New York World, decided to publish a crowd sourced campaign on the front page of his newspaper. This campaign was entirely successful, and five months later, the city of New York had enough funds to complete the project.

One of the advertisements for the crowdfunding campaign of The World Newspaper in 1885

Since then, the idea of crowdsourcing has been propelled into the 21^st century, thanks to the Internet. The first known use of the actual term ‘crowdfunding’ comes from 2006, when coined by Michael Sullivan with the launch of his website initiative, Fundavlog. Although his mission wasn’t entirely successful, the effect that the idea of crowdfunding has had on the online landscape has been lasting. Not until Kickstarter launched in 2009 did the world truly get to know the definition of crowdfunding in practice. Since it launched, more than 8.8 billion people have pledged US$1.8 billion, funding 86,000 creative projects. In 2013, the crowdfunding industry worth reached to over US$5.1 billion from over 452 crowdfunding platforms  and a 2013 World Bank Report predicts that, in China, this figure will rise to US$50 billion by 2025.

The beauty of crowdfunding lies in its inherit democratic nature. “If someone creative wants to make something they’re passionate about, and they can convince others of its worth, then they will be able to do so, at the cost of their supporters” says Ewen Smith, 26, who had launched his own Kickstarter campaign but unfortunately could not successfully fund his campaign to fulfilment. Of the campaign he says he "couldn’t quite get the social traction one needs to truly gain momentum for these sorts of things, so unfortunately I became one of the 'failed projects'. I did learn a lot though, and plan to try again in the future with a different approach. I think the future of this medium is really promising, because it allows for creators to make something without external people telling the creator 'who', 'what' 'where' or 'why' when it comes to the actual product. As for now though, we're taking the product back in for review.”

The same goes for people wanting to raise money for those in need, housing, legal support or things similar, where if they can successfully convince people of their needs, they will be funded. Unlike before, the possibilities of backers for any given project has been unleashed onto the entire world, unlike before when people were limited to those in their local vicinity. This business model allows for project makers to find people who are like-minded from a bigger pool of potential backers who want to see their projects come to fruition at the expense of those in support of it.

There are many stories to credit crowdfunding and its successes some making a difference, and some a product of the Internet simply supporting something because its entertaining to see something ridiculous gain momentum. An example of the latter, in July 2014, Zack Danger Brown launched his campaign for Potato Salad. He simply wanted to raise ten dollars to eat potato salad, declaring in the mission statement, ‘Basically I'm just making potato salad. I haven't decided what kind yet.’ This ‘mission’ of his then elicited a huge response from the Internet due to its random purpose and subsequently raised just over $55,000 of his $10 goal. Given, he did put this money to good use and created an event called PotatoStock, (project makers are only allowed to spend the money on the elicit purpose of the project, regardless of funds raised). The funds from this event were which he used to create a fund to help end hunger and homelessness in Ohio.

There are cases, however, where the creator doesn’t follow through on their promises and there have since been new laws passed in order to ensure this doesn’t happen again. One such creator, Erik Chevalier, has cancelled his Kickstarter campaign for a board game halfway through the allotted time, keeping the funds raised, and not making any form of product for the market. The Federal Trade Commission has since acted upon this crime and he is now banned from any form of misleading crowdfunding practices and must always act in accordance with the law and policies regarding refunds for such campaigns.

There have been other success stories, more meaningful and change effecting than a ten-dollar bowl of potato salad as the end goal. There has been funding to re-establish a local Portland family restaurant, which was a local treasure, for new mosquito repellent technology to be made available in Africa, creating engineering toys for girls and sending disadvantaged children from New York on field trips to Harvard, organised by the creator of the blog Humans Of New York, Brandon Stanton.

On a more local level, crowdfunding is also being used on a smaller scale to help with small costs of day to life when the creator is in financial strife. Kayla Roze, 21 and Psychology student at the University of Melbourne knows these advantages well. Her best friend, who wishes to remain anonymous, has started a campaign to raise money to help her struggling family with legal costs against her father, who after sexually abusing a young member of her family, is now fighting with their mother to regain custody of the children. So far she has raised $587 of her $2000 goal. Of her friend, Kayla says that it’s “hard to describe how filled with gratitude she is. She hasn’t told her family that she’s raising money yet, she is going to present them with a lump sum once the funding is complete”. Kayla says she doesn’t know whether this method of anonymous fundraising is going to work, but states that “the Facebook sharing option has been a huge help, when people can see that they’re own friends are getting behind a project, it can humanize the issue allowing for larger success.”

The success behind most of these campaigns can be attributed to social media and the virality of these types of campaigns. People are excited about an original idea that they genuinely believe would enhance their everyday life, they can back an emotional issue from a human-interest standpoint, or they are just looking for some light-hearted entertainment, as with the potato salad campaign.

In terms of the future, the face of crowdfunding is set to change, though, with the introduction of the JOBS (Jumpstart our Business Startups) Act by Barack Obama in 2012. This means that now, businesses, or startups, can sell up to $1 million in shares and have up to 1000 stakeholders in their company before having to register with the US Stock Exchange. This means that instead of selling prizes or giveaways as means of payment to the backer, they are instead purchasing shares in the company. Before, only wealthy investors, or accredited investors, were able to invest in startups, but now this means that anyone over the age of 18 and the money to invest can do so at their leisure. This will aid hugely in the US' slowing business market and is sure to create a ripple effect across the rest of the world, pending its success.

Though it may seem the resource of crowdfunding has been largely utilised, the reality is that it remains wholly untapped when speaking in terms of its ability to go beyond smaller creative projects. The fact that the US government is now acting upon change as a result of the explosion of this medium says something about the foreseeable future of the idea.

Food Fair Fit for The Gods (of Education)

Never have I ever seen such an eager cohort of students partaking in the same subject with such an intense passion for what they are studying. Then again, never have I ever seen so much free food in one place in one time. I like to think both played a fair part in Friday's game.

For the food fair I chose to make French Pear and Hazelnut Tart. I remember having tried this dish whilst on exchange in France and being totally taken aback with not only how yummy but also how different it was. Pastry covered in a kind of hazelnut crust and baked pears with cinnamon wasn't something I'd had before but it didn't make it any less DELICIOUS, so the chance to bring it back to my Australian peers was a responsibility I did not take lightly.

the exact concoction I attempted 

Baking it was relatively easy thanks both to an easy to follow recipe and an unwillingness to fail. It even came out looking exactly like the picture! Unfortunately though, the tupperware container I had to transport my masterpiece was not big enough to fit the whole thing so I was forced to prematurely cut it up.

I noticed the biggest compliment of the day was if your dish was all gone when it came to packing up, so I felt as though I had done the dish justice. Either that or I simply did not make enough to warrant not being able to finish it. I'll go with the former though, I think. 

I have truly enjoyed this subject and am wholly grateful for its existence. To any tutors reading, thanks for your guidance I've had serious fun studying these past few weeks. Any prospective students reading who are tossing up doing this subject. Say yes. Just do it. Best decision ever. 

Naked For Who Now?!

Naked for Satan, enjoyed by many a hipster Fitzroy folk, not only for its interesting take on modern Slow Food, but also for its vast drinks and Spanish food menu. The interesting name sets a precedent for the dining experience to be had in the establishment.

It happened to be my best friends birthday last Wednesday, so I suggested we go to the rooftop for some drinks and nibbles (and also, selfishly, so I could have my dining experience for this blogpost).

Birthday Girl eye-ing off the nearest cocktail

Offering up 12 beers on tap, countless others in bottles, the biggest wine list I have ever seen in my short 21 years, and their infamous house-infused vodkas, with flavours ranging from Alpine Chocolate and Sugarcane to 'Naked Bitch' Chilli and Cherry or even Salted Caramel (!!!!!!).

We spent time both downstairs in the Pintxos and Vodka Bar and upstairs in the Naked in the Sky Bar. Downstairs we had a plethora of well thought out and original pintxos dishes, tallying up our toothpicks at the end and paying through their unusual honour system. Having questioned the staff on this rule, they told us that it actually worked quite well and that most paid for exactly what they ate.

Each and every pintos is $2 of deliciousness (cheap cheap)

We then proceeded upstairs where we were met with a share-plate bar menu. We ordered the crumbed eggplant covered in honey and blue cheese (YUM) and the grilled prawn skewers. The grilled prawn skewers were delicious but disappointingly few considering the price at $14.5, the eggplant was, however, easily in my top 5 restaurant dishes to date. The honey and blue cheese complimented the eggplant so well that I will probably, nay, definitely be regularly returning there so long I shall live. 

I'll be dreaming of you tonight, Eggplant

What I loved about Naked for Satan was that is wasn't claiming to be typically Spanish, or anything for that matter. The staff don't speak with spanish accents, nor are the menus (the majority) in spanish. The only claim of authority of being a Spanish restaurant is the experience one has with the food, and the new flavours you try with each different mouthful. The set-up works perfectly for the Melbournian demographic, which probably explains why even last Wednesday the place was packed and we struggled to find a table. 

Easy Peasy Torta Caprese

Did someone say flourless chocolate cake? No? Or am I just always thinking about it?

Either way, this beauty knocks the lucky tasters socks off without fail every time. Traditionally made with almonds or walnuts instead of flour and a whole lotta eggs, this speciality from the Isle of Capri in Italy, is truly delicious.

Was going to put a caption but I'm choosing to tell you I drooled at this photo instead

Torta Caprese has been named "uno dei pasticci più fortunati della storia" (one of history's most fortunate mistakes). This name cites one version of the cakes history, when a baker was filling and order for a chocolate cake and forgot to add flour, instead adding ground almonds, much to the customer's delight who loved the consistency of the cake and kept coming back for more. There are other stories as to how it came about but honestly I think we should all just be glad it exists now. 

Being a staple in every cake shop in the region, you can understand why its an important piece of heritage for the people of Capri, it is as important to them as the lamington is to us poor Aussies, who unfortunately don't have the same rich and interesting culture as those of Europe and therefore must result to calling spongecake rolled in chocolate icing and desiccated coconut a national treasure. I digress, I am getting off track. 


I love this man not only for the calm presence in his voice (an essential when baking) but also for his rad accent.

  Having researched recipes and the background of this dish, there were a lot of results coming from Australian sites. This kind of enthusiasm for the dish, along with its fairly accessible ingredients that western society is very used to eating and baking with (i.e. no 'weird', 'unknown' or 'that's a bit foreign' surprises) encourages the idea that it is being plated up all over the world in its original Italian form, which is just what that baker who originally made the mistake would have wanted. 

Raclette is Gouda-nough

Disclaimer: Ability to be accurate was forfeited thanks to cheese pun opportunity. Gouda has nothing to do with Raclette.

Raclette, a dish so important to France and French eating culture that it even has its own Australian .com.au website. My first and only experience with Raclette involved walking around the streets of Annecy in the South of France (ddaaaaaaaarling) after a 9 hour hike in search of food that was going to fill us to the brim. We walked past a restaurant that seemed to be serving literally melting wheels of cheese whose drips were falling onto various foods. It may have cost us our food budget for the week but it was 100% worth it. It may have been the dangerously empty levels of my stomach, but I have never felt so satisfied by a meal as I did by this Raclette.

Me having words with the Raclette - 'Please please just please bypass my thighs I beg of you'

Originally from Switzerland, the French along the south eastern border have taken it on as their very own and it is now considered a typical French delicacy. There are a few ways of eating Raclette, but in my opinion the best is that pictured above.

The name comes from the French word racler, meaning to scrape, making the way its pictured above the most traditional form of eating the dish. According to local myth, a group of farmers found some cheese they had dropped onto the hot stones and 'scraped' it off, discovering it was actually great, and the rest was, as they say, delicious history- (do they say that??). The majority of it being eaten in the mountainous regions of France, it is now recognised alongside the likes of fondue in terms of comfort food, the French eat it predominately in winter after a day on the slopes.

With the cheese one dines on baked potato, gherkins, dry cured meat, sliced peppers, salad greens and onions, which a lot more flavoursome than it sounds, promise.

The Raclette Australia website is surprisingly comprehensive and well updated (it welcomes you to 2015!), which encourages the idea that Raclette has truly found its way over here to Australia.

De Gazpacho No Hay Empacho

'of Gazpacho there is never too much'

What initially looks like warm tomato soup soon presents itself upon first spoonful as something entirely different. Gazpacho. An unlikely spanish delicacy that is believed, according to some, to have stemmed from the arrival of the Moors, with their introduction of an Arab soup consisting of bread, olive oil, water and garlic. According to others, though, it is believed to have been initiated with the arrival of the Romans. Either way, however, once in Spain it was a custom quickly snapped up by those in Andalusia, particularly in Cordoba and Seville.

Originally the soup was blended stale bread, olive oil, garlic and water. Almonds and whatever vegetables were available were also added. Over time, though the soup has become predominantly  tomato-based and in some regions is also served hot or warm.



Some examples of different ways of making Gazpacho

Nowadays, though, Gazpacho has become the generic term for cold, vegetable based soup in Spain and spread throughout the world. The general opinion is that Gazpacho is pivotal and central to Spanish culinary identity, with differing versions amongst various regions.

I asked a few friends and members of my family how they felt about blended bread soup (for lack of a better word), and most of them had never heard of it and were turned off by the thought nonetheless. Gazpacho isn't as prevalent as one would assume it should be, given Australia's similarities in climate during the warmer months. Even at spanish restaurants here it is not something that one sees all the time, perhaps because the restauranteurs know that it just hasn't quite yet caught on in Australia.