The answer is basically that the company dies and customers get nothing.
We (Pantelligent, YC W13) did a Kickstarter, then successfully shipped to customers, and are now transitioning to normal orders. Our actual production costs and timeline were within ~15% of our before-the-fact spreadsheet estimates, but then again, we were experienced engineers who know how to ship hardware & software products, which is quite unlike most new entrants.
Just within the "temperature controlled cooking products" space, I could name a bunch of "competitors," but not a single one besides ourselves has shipped, with the exception of the existing sous-vide field which has had more time to develop and is fairly simple from an engineering perspective. Most of these products will likely never ship.
Sadly, crowdfunding usually leads to dramatic overpromising on features (some of which are not even manufacturable!), and severe and unsustainable underpricing, in order to drive pre-orders. That's just a recipe for disappointed customers and dead companies.
We (Pantelligent, YC W13) did a Kickstarter, then successfully shipped to customers, and are now transitioning to normal orders. Our actual production costs and timeline were within ~15% of our before-the-fact spreadsheet estimates, but then again, we were experienced engineers who know how to ship hardware & software products, which is quite unlike most new entrants.
Just within the "temperature controlled cooking products" space, I could name a bunch of "competitors," but not a single one besides ourselves has shipped, with the exception of the existing sous-vide field which has had more time to develop and is fairly simple from an engineering perspective. Most of these products will likely never ship.
Sadly, crowdfunding usually leads to dramatic overpromising on features (some of which are not even manufacturable!), and severe and unsustainable underpricing, in order to drive pre-orders. That's just a recipe for disappointed customers and dead companies.