IQ2 Power Meter

Awful lot of people who will feel defensive about making this investment. That would explain the mental somersaults they do to defend such an absolute farce.

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I got screwed. I’m reasonably comfortable with that knowledge at this point.

It sucks, but not much I can do about it.

I’ve ‘invested’ in two Kickstarters of lower value. One was perfect (funding a book) and the other delivered a product (fancy multiple USB cables) but the product was shoddy and barely functioned. A friend of mine was burned on the infamous Drone funding. So difficult to tell which ones will work out well.

Some of the biggest and most well established companies in the bike-tech world have struggled with the development of power meters and had years of delay, or ultimately canceled the whole thing.
So I feel like expecting this from a crowdfunded start-up was always gonna be a long shot.
People like to assume this is some sort of elaborate scam. But I think in reality it’s just a start-up struggling with the same issues, much bigger companies have struggled with. And more since they don’t have the same connections/infrastructure/leverage. And obviously Covid didn’t help them either.

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People think it’s an elaborate scam because this company has delivered maybe two dozen units in the last few years, have shite customer service when it comes to setting timeframes for delivery or actually answering people, are never short on excuses, but if you look at their social media they are posting like a company that’s actually doing well and everything is great. They are putting on a false show to get more pre orders for product that is likely never going to see the light of day. THATS why I called it a scam over a year ago, not because making power meters is difficult.

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If repeatedly and persistently lying to your backers, right from the get-go, isn’t evidence of a scam then I’m not sure what is.

That’s quite apart from not delivering a product and failing to explain where the millions of crowd-funding dollars went, along with continuing to take online orders for a product they know they can’t deliver and not meeting legal requirements to refund those orders when “deadlines” are missed (always).

Even if it didn’t start out as a scam, it’s certainly developed into one over the years.

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Yup. If it quacks like a duck…

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