This is why you never fund a company unless you have a debt contract or get shares in return.
Canât imagine that would be legal 
I mean crowdfunding is basically a casino so whatever. But messing with funds from actual pre-sales of a product sounds kinda illegal.
Also as pointed out before numerous times, IQ² doesnât really have any struggles that other powermeter start-ups or even corporations didnât have. Where they stand out is their extraordinarily overoptimistic communications.
1 Like
Until now (Sept 24, 2020) IQ2 not even know their lead time! They donât provide estimated SHIPPING dates. I asked a refund two days ago. According to them the refund prosess take 30 days. I will let you know if I get it
Did you get the refund?
Crowdfunder here so no refund. Clinging to hope that something will arrive, but not counting on it.
1 Like
I was one of the earlier backer, when they were on Kickstarter. Now after two years, I am expecting delivery⌠of Garmin Vector 3.
I knew that I might not see those money or product again. I waited, but two years was enough. On the other hand, I used this time to train with HR and get used to planning and sticking with trianing sessions. Next step, try TR plans 
2 Likes
Well my hopes for a reasonably priced pedal PM is dashed. Alas, I will put my hopes and thoughts into Chloe Dygert Owens.
I ordered via their shop and asked for refund. They replied quickly, asked my to reconsider but then started the process. Apparently it can take up to 30 days. Lets see.
1 Like
Yeah, I think Iâm at this point now too. I guess itâs probably easier to request a refund now than have to get the credit card company to do a chargeback.
Someone posted a poll on a IQ2 backers FB group about interest to allow another PM to come in and offer discounts on their products to IQ2 backers. I suspect that this is just a flight of fancy in hope that a Favero or other PM manufacturer will see it. Practically speaking I canât see any company being able to offer a significant enough discount to 3500 or so backers. I would rather see a company take the design and assets (test jigs, injection molds, gauge bonding etc) and bring them to production. It looks like most of the NRE is done and it is a matter of $$ to bring them into production. More wishful thinking.
1 Like
No kidding. Seems an odd ask IMO.
-
Give us a discount⌠because we took a chance on a different âcompaniesâ product⌠with no proven production or reliability⌠and the known issue that it could fail miserably (as seen in so many other group funded projects, power meters among them).
-
I guess the discounting company could be seen as a âgood guyâ helping people who may lose money. But that stinks a bit for other people who chose not to take the risk and would be more likely to support an established company and product.
4 Likes
To me itâs a 50-50. On one hand, itâd be nice of someone to help out but on the other hand it could be viewed as opportunistic. I canât see any company offering more than a token 10 or 15% off at best. No one is going to offer a 30-40% discount (at which they would still be making a profit).
The PM was a want for me, hardly a need by any stretch and most likely so for many backers. To add even a âdiscountedâ cost on top of writing off their crowdsource amount probably adds up to more than the cost of Company âXâ's product that they didnât want to shell out for in the first place. If it was a real âneedâ they would have moved on long ago.
2 Likes
Odd, but not uncommon.
Last year my A race (Great Floridian Tri) was cancelled due to weather (50mph gust winds and heavy rain).
The offered 10% discount for this year race⌠most people were pissed at this (at the same time most got it since its a local company who put this race and most of the income comes from this race).
Then Challenge Daytona (70.3) saw this as an opportunity to gain a few admirersâŚand offered a 30% discount on their race.
The the Cocoa Village Tri heard about this and offered people who didnât get to race GFT a 30% discount too (this one was a Olympic distance).
My point. A pedal company could see this as an opportunity to gain supporters and karma points by offering a nice % discount on their pedals. Not all of the 3500 backers will buy anywaysâŚ
1 Like
So still no products in the wild?
The claim is 19 went out to Dutch backers but only one or two posted anything about it. Seems dubious that after all this time that there wouldnât be more if they were out there. If someone is tech-saavy enough to crowdfund, they can post a review or acknowledge receiving product.
2 Likes
There goes the slightest chance for factory SPD power pedals. I know that you can hack some together but thatâs buying two sets of expensive pedals and loosing warranty.
I stand by my thoughts that garmin/assioma/other pedal manu should see the interest people have, and the rise in MTB pros using power, and start investigating SPD compatible pedals.
Rather glad I didnât gamble on them now, maybe 6 months ago I was close to it.
2 Likes
I just reread the FB post and thought I would post an updated version rather than edit my previous post.
The FB poster says that a PM company âhave been in contactâ and âwould like to make an offerâ and created a poll to see if group members were interested and would allow them to post/market to the group. The OP is the group Admin so I can only surmise he probably contacted them on his own asking if they would do something and they responded they would like to. I guess weâll see if it really amounts to anything or not.
3 Likes
For those of us who do not have Facebook, please keep us updated. Thanks!
2 Likes
I really donât get Favero not producing their own version âhackâ pedals themselves. The market is there, although maybe theyâre making enough off people doing the hack, with no warranty/ support necessary?
The warranty issue is the reason I havenât done it - Iâd pay the combined cost plus a premium for warranty.
2 Likes
It does seem strange that they havenât done this, given the interest in it. Surely someone associated with Favero has seen it and has done technical and financial assessments.
It must not make sense financially to them in terms of one or more of not enough volumes, licensing the MTB body from Xpedo, or liability/durability since their pod isnât really compatible with many shoes (requires mods to shoes) or possibility of strikes.
1 Like