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Kickstarter is used to gain funding for a project like Super Adventure Squad, like you would go to a bank and apply for a loan. A bank has a strict set of rules and requirements that have to be met before they will grant the loan.
It is probably safe to say that most backers on Kickstarter have never been a loan officer at a bank or have any experience with venture capital or anything like that so it is understandable they are not aware of the many pitfalls.
The first thing you need to look at is the character and abilities of the team. Jay has demonstrated that he works well individually and can make a fan game on his terms, that is about it. This should be a red flag though. What it says is that Jay has some game in his mind, and he is going to make it the way he wants, on the timeline he decides. His questionable ethics also come into play. Even though Super Mario Crossover is most definitely illegal, he flaunts that he "believes" he has found a loophole by not "directly profiting from Super Mario Bros Crossover." Even thought that is irrelevant, it is still copyright infringement whether you make money or you do not. The penalties for copyright infringement while profiting are just higher and could even result in criminal (on top of civil) penalties. He also consistently demonstrates he is going to do things his way and that it. Which is fine for Super Mario Crossover, but people paid for Super Retro Squad (before he changed the name to Super Action Squad). The information on Kickstarter is there as promises for what you will get from your backing. Including a release date, which Kickstarter forces you to pick because a solid project will have realistic goals and deadlines that will be achieved. It is meant to weed out deadbeats and those unwilling to commit to their backers so that for example a game can'' take as long as it wants to make."
But let's not go with what I say, how about what Jay Pavlina from Exploding Rabbit has to say about changing the name from Super Retro Squad to Super Adventure Squad.
Pay special attention to the
"Most people don't seem to like it, AND THAT'S FINE"
Jay Pavlina is in it for Jay Pavlina, and that's it.
An Example
I mean just think, GTA V just came out, what if Rockstar just stopped responding to the press, fans, everyone and didn't realease the game when they said they would. Later they finally say "we just started the game, it'll be out whenever." Rockstar would be torn apart (like 3D realms for example) and would probably have difficulty making another game.
Advice for Backers
Just simple advise to all. If your going to back something, demand the following and hold them accountable and know that these requirements are way lower then what a bank would require for a loan;
1) Who is the project lead, what is their education, their track record of project management
2) Who is the team, how much will they be paid, what are their qualifications
3) What is the timeline, meaning definite milestones and release date
4) Define the project, what are you getting for backing (this is the description and stretch goals)
5) What is the money for, where will it be spent, does it make sense to spend it on that?
6) How will communications be made and how often
7) Who will approve scope changes
Anyway, if you want to back Super Retro Squad, now renamed Super Action Squad, go right ahead. Just keep in mind, you will not be treated as a stake holder, you are mostly giving Jay money for an illegal fan game, Super Mario Crossover, or funding his dream of having a game company, don't expect anything else. That's all well and dandy, but usually you have to have a proven track record and solid games before you would consider something so major as getting office space for example.