There’s a certain catch-22 to monetizing a community of DIY enthusiasts. Large events are very expensive and hard to do right and require deep-pocketed sponsors. But it’s hard to sell DIY enthusiasts mainstream products because they would rather make it themselves or use the open source alternative. So sponsors may have correctly deduced the spend was not moving the needle.
And in the case of Maker Faire / Make Magazine the vast, vast majority of the things the community members made were not products at all and therefore helping them monetize their own work was really a dead end as well. For a short while Make ran an e-commerce marketplace and I think they overestimated the supply of and the demand for products from their community. Etsy bought a similar hardware marketplace and shut it down when it didn’t perform.
In hindsight I believe the real opportunity for revenue in the maker space is education. I like what LittleBits is doing. I may not pay for an elaborate electronics kit but I will gladly pay a subscription fee to anyone that elps my kids think math and science are fun and cool and keeps them engaged when others kids are tuning out.
And in the case of Maker Faire / Make Magazine the vast, vast majority of the things the community members made were not products at all and therefore helping them monetize their own work was really a dead end as well. For a short while Make ran an e-commerce marketplace and I think they overestimated the supply of and the demand for products from their community. Etsy bought a similar hardware marketplace and shut it down when it didn’t perform.
In hindsight I believe the real opportunity for revenue in the maker space is education. I like what LittleBits is doing. I may not pay for an elaborate electronics kit but I will gladly pay a subscription fee to anyone that elps my kids think math and science are fun and cool and keeps them engaged when others kids are tuning out.