Crowdfunding the city: the end of 'cataclysmic money'?

Bieri, David S.

doi:10.1177/0308518x15615369

Cited by 14 publications

(15 citation statements)

References 12 publications

(9 reference statements)

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“…In digital humanities, research is particularly interested in fandom and other affective energies that animate the crowdfunding of artists and performers, and typically casts doubt on the potential this holds for transforming the cultural industries from 'the 4 bottom-up'. The claims made about the 'transformative potential of crowdfunding' have also begun to be challenged by geographers such as Bieri (2015Bieri ( : 2431. Focusing on the capital that crowdfunding makes available for large-scale urban real estate and infrastructural projects in US cities, Bieri makes a connection to a long-standing geographical interest in the tendency within capitalism for flows of finance capital to switch from the circuit of production and into the built environment (Harvey 2001).…”

Section: Introductionmentioning

confidence: 99%

Capitalizing on the crowd: The monetary and financial ecologies of crowdfunding

2017

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Section: Introductionmentioning

confidence: 99%

Capitalizing on the crowd: The monetary and financial ecologies of crowdfunding

2017

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“…There are concerns that LIAs and other urban products will continue to follow broader market pressures without considering "localness" (Bieri, 2015;Langley and Leyshon, 2017). In contrast, our research highlights LIA crowdfunding strategies that include local actors and "localness" in the financialization of these assets.…”

Section: Discussionmentioning

confidence: 76%

“…Project sponsors seek out crowdfunding to leverage their local social networks, obtain market demand information, and tap into unconventional funding methods (Langley and Leyshon, 2017;Schwienbacher and Larralde, 2012). The dual purpose of building social and financial support for projects points to the idea that crowdfunding can be used as "gradual money" for effective change in communities (Bieri, 2015;Gasparro, 2018). Market forces might drive crowdfunding platforms to behave as typical financial intermediaries.…”

Section: Discussionmentioning

confidence: 99%

“…Crowdfunding platforms focused on LIAs have become new financial intermediaries for geographic assets by sourcing infrastructure assets and expanding investment opportunities (Langley and Leyshon, 2017). Critics who understand crowdfunding as financial intermediation point to inevitable market forces that can lead to gentrification and speculation for urban products (Bieri, 2015). But this criticism does not explicitly consider the unique position of crowdfunding platforms that focus solely on urban products, including LIAs.…”

Section: Background: Emergence Of Lia Crowdfunding Platformsmentioning

confidence: 99%

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Demystifying “localness” of infrastructure assets: Crowdfunders as local intermediaries for global investors

Gasparro

Monk

2019

Environ Plan A

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Infrastructure assets are networked, urban products that can only be understood through their social, economic, and physical geographies. Because of this, they remain difficult to value and monitor. Recently, financialization of infrastructure assets has codified this information for larger capital markets. But the local knowledge needed to understand local infrastructure assets (LIAs), smaller urban products that are closely intertwined in a community’s economic trends and social fabric, is prohibitive to increased investment. At a time when there is a need for renewed investment in LIAs, a new intermediary, capable of translating “localness,” has emerged. LIA crowdfunding platforms connect capital-seeking agents (asset owners) with capital-giving agents (crowdfunders) to channel resources into LIAs. Through close dialogue and review of nearly 70 LIA crowdfunding platforms, we find that LIA crowdfunding platforms are creating a new marketplace for investments in LIAs. These platforms (a) select crowdfunding models that reflect specific asset values; (b) accredit LIAs and their capital-seeking agents considering local context; (c) translate local knowledge for nonlocal and novice capital-giving agents; and (d) reflect the demand for LIAs. Together, these strategies reduce information asymmetries and translate implicit asset information to nonlocal capital-giving agents, thereby facilitating investments into LIAs. Because of their modest growth, LIA crowdfunding platforms have yet to realize their full potential. To scale, crowdfunding platforms must understand their power in complementing the current infrastructure investment market and focus on how their unique position can unlock new investments in LIAs.

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“…In fact, as explained below, some of the projects studied here received matching funds from government agencies. However, the author acknowledges that critics have raised important questions about how civic crowdfunding relates to shifts in government service provision (Bieri, 2015;Rosenman, 2015), and issue discussed further below. Any local development initiative undertaken with minimal or no external support raises important normative and empirical questions about how community development goals are best accomplished.…”

Section: Introductionmentioning

confidence: 99%

Participatory E-Planning With Civic Crowdfunding

Goodspeed

2019

International Journal of E-Planning Research

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Civic crowdfunding, or recruiting participants and collecting financial donations online for local development projects with public benefits, is an increasingly popular method for participatory e-Planning at the neighborhood scale. However, little is known about the donors' backgrounds, project involvement, or social capital outcomes. This article reports on a survey of 154 donors to ten such projects that finds that they are geographically diverse, are older and whiter than the project tracts, report some volunteering activities, and experience modest changes to social capital outcomes. The article discusses implications of the findings, such as how practitioners can ensure inclusion of diverse people and encourages participation among donors, and what future research is needed.

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Crowdfunding the city: the end of 'cataclysmic money'?

Abstract: Crowdfunding the city: the end of 'cataclysmic money'?'The metropolis has always been the seat of the money economy. ' -Georg Simmel (1903)

Cited by 14 publications

References 12 publications

Capitalizing on the crowd: The monetary and financial ecologies of crowdfunding

Capitalizing on the crowd: The monetary and financial ecologies of crowdfunding

Demystifying “localness” of infrastructure assets: Crowdfunders as local intermediaries for global investors

Participatory E-Planning With Civic Crowdfunding

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