Last week, The Daily reported that Kanye West‘s charity spent more than a half-million dollars in 2010—but none of that money went to actual charitable causes.
After analyzing federal tax filings, the iPad newspaper found that in 2010, the Kanye West Foundation had expenditures totaling $572,383, but the majority of that went to employee salaries and other overhead expenses.
The charity didn’t even donate a single cent to an actual charity that year. And now, West’s foundation is in the process of being dissolved.
Since it’s easy to get bogged down in the numbers, Statista took The Daily’s findings and compiled information from the foundation’s tax filings to create the below infographic explaining where Kanye West’s money went and what happened to his so-called charity foundation. Complete with West’s stunner shades, obviously.
Take a look below.
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If you have a brilliant new idea for an mobile app, a handy gadget, a smartphone case that does something cool, an album you want to produce, or even a comic book you want to publish, it’s never been easier to get your idea in front of a lot of people and raise money to make it a reality. There are dozens of free and cheap sites designed to boost new ideas, but not all of them are best for your idea. Here’s how to pick the best one for you.
Sites like Kickstarter and many others all cater to people with ideas they believe can make it big, but who need money to get them off the ground. The community supports the idea, everyone chips in, and with luck and enough interest and the right amount of money, the product gets made and the contributors usually get first cut or a special perk. Still, even though Kickstarter gets a lot of press, it’s not necessarily the best one for your idea.
Photo remixed with an original by dinadesign/Shutterstock.
For The Most Attention: Kickstarter
Kickstarter is the major player in this space, and for good reason. The service gets a lot of media attention, and even though the majority of Kickstarter projects don’t go anywhere, it’s become the go-to destination for anyone looking to crowd-fund their projects thanks to a few high-profile projects that managed to raise a lot of money. It’s not the biggest crowd-funding community, and it’s not even the one with the best track record, but it’s incredibly easy to use, popular with angel investors and people looking for the next big idea to invest in and get behind, and well organized. Idea creators can set up their profiles for free, founders can pledge as much or as little as they choose, and no money changes hands until time runs out or the project is fully-funded. If the project is fully funded, Kickstarter takes 5% off the top, and the rest goes to the inventor or creator to make their idea happen.
For App-Builders, Game Designers, and Developers: IndieGoGo
IndieGoGo is actually larger than Kickstarter, and more people there use it for more types of projects. The site takes 4% off the top of your fundraising if you reach your funding goal, and encourages creators and developers to offer perks to the community for funding their projects. Unlike some of its competition, IndieGoGo also has its doors open to charities and non-profits. The site is particularly popular with software and app developers, although all sorts of creative projects are up on the site for funding, including documentary and independant films, education projects, and international aid projects. IndieGoGo also has the benefit of being a global site, available to users around the world.
For Inventors and Gadget Creators: Quirky
Quirky has an excellent track record, and some of our favorite gadgets started as Quirky ideas. The process of getting your idea in front of the Quirky community is a bit more involved than at other sites. You submit your idea, the community weighs in first on whether or not it’s an idea that could be made into an actual product before it goes in front of the world for fundraising. That’s the key, while other sites focus on creative endeavors, most Quirky projects are tangible products that can be manufactured and sold. The Quirky community is active and engaged in idea building and product design and development, and a lot goes on long before the idea ever gets on the site for presale fundraising. Pricing is on a sliding scale—people who get in early can get lower prices than people who get in later, and once the product is made, Quirky can work to manufacture it themselves, or work with a major retail partner to get it on store shelves everywhere.
For Musicians: Bandcamp
We touched on this topic a bit in our previous story on how to release music online so music-lovers can get to it, but while SoundCloud was one of our favorite options for releasing your music for free, allowing people to remix it, and comment on it, Bandcamp is another great solution for musicians looking to set up a free storefront on the web to allow people to buy and download their music directly. Artists and fans both love Bandcamp, and the service handles the entire payment platform, from set-your-own-price albums and songs to artists with a mix of free and paid songs in their discography. Artists can also sell merchandise through their stores, and Bandcamp takes a slice off the top depending on the artist’s sales. Fans and music lovers on the other hand get a social platform where they can follow and interact with their favorite artists, get alerts when new music is released, and discover new artists through their friends.
For Crafty Types: Etsy
Crafty types are already well aware of Etsy and how the platform works. When people who made their own hand-made goods, arts, and custom crafts wanted an online storefront that catered more to their needs than a general auction site like eBay, Etsy was born. The site has dozens of categories, including clothing, art, jewelry, household accessories, and more. While most people know Etsy as a craft-lovers haven, the site is also home to a number of stores that manufacture products you wouldn’t associate with “arts and crafts,” like wall decals, custom motorcycle helmets, and even edible crafts like homemade cookies and beef jerky. Where other similar sites help you get seed money for an idea, Etsy is more of a traditional store, meaning you have to have your idea off the ground and your product ready for sale—even if it’s a single item—before you can sell it.
For Global Users: RocketHub
Many of these sites limit their membership to users in the United States, but RocketHub is one of the largest global communities dedicated to crowd-funding new ideas. RocketHub combines a traditional crowd-funding site where individuals can promote and raise money for their own ideas and pet projects with a funding bank where people with inspired ideas can connect with sponsors, non-profits, and funding groups who are willing to share some cash with a particularly motivated or passionate individual. The service works much like Kickstarter or IndieGoGo—sign-ups are free, and the site takes a 4% cut.
Different crowd-funding sites have different goals and different audiences. Depending on the type of idea you have and the audience you want to reach, you have an array of sites to choose from, and this is just the beginning. For example, if you have a random request or want to get the crowd’s help in funding a life event like a wedding or a vacation, you can try GoGetFunding, and if you’re an industrial designer, Yanko Design is a great resource for like-minded designers.
Whichever site you choose to get your ideas off the ground, make sure it’s one where the community is aligned with and supportive of your ideas, and you’ll have no trouble raising the funds needed to make it a reality. Have you used any of these sites to crowd-fund a project or idea? Share your experiences in the comments below.
It uses the same principle as your Brita filter to purify water, but Black+Blum’s Eau Good bottle does it with way more style using a stick of charcoal that’s always visible through the bottle’s lovely curves.
Known as Binchotan, the black stick is a type of carbon made from tree branches, which the Japanese have been using to soften and purify water for centuries. It can even reduce the amount of chlorine in your H2O, though the passive process does require quite a few hours to work its magic. So it’s recommended you leave the Eau Good bottle sitting overnight before drinking. We recommend staring at the bottle while it works.
To prevent the charcoal from floating to the surface, the $20 plastic bottle has been designed with a slight bulge on the side, keeping the $4 Binchotan stick submerged at all times. It’s promised to work for up to 6 months before it needs to be replaced, while a quick 10 minute boil at the 3 month mark will help ensure its effectiveness. And when it does stop working, you can of course just toss the charcoal stick in your garden, where mother nature will recycle it for you. [Black+Blum via bookofjoe]
It’s that time of year when we all reflect on the past, search our souls and determine what we want for the next year. I’ve been reflecting on what it means to work with a company that controls so much of the market, provides such a broad set of capabilities and delivers such a large percentage of monthly revenues to publishers. Of course, I’m thinking of Google and what their dominance in the ad market means for a publisher’s future and its ability to remain relevant to marketers.
What do we know about Google? They are this great company that gives consumers some of the best digital products available on the Web: search, email, maps, Android, apps and more. This has catapulted Google to the rank of second most valuable brand, behind only Apple, according to Millward Brown. This seems to be great for consumers, but what about the businesses who are now reliant on Google for search and display revenue, advertising technology and various business applications like Google docs, Android OS, Chrome, etc.?
Many of the businesses I meet with hold Google in high regard because of the products they represent and the amount of revenue they provide. However, these businesses are equally concerned about Google’s consumer stranglehold, their influence over the ad ecosystem and their focus on automation, all of which lessens the publishers’ worth in the value chain as a whole. Google’s market dominance stretches well beyond search, which in itself is obviously enormous. This expansive dominance should be alarming for every marketing-related business, including publishers, advertisers and agency and marketing services technologies. Here are a few stats on Google by category that will likely frighten even the largest of these businesses:
- 65.38% Share of Search, Oct-11 Hitwise
- 44.1% Share of Ad revenue, Oct-11 PCMag
- 43.8% Share for Video, Oct-11 Comsccore
- 30.03% Share for Travel, Oct-11 Comscore
- 22.38% Share for Automotive, Oct-11 Comscore
- 18.69% Share for Shopping, Oct-11 Comscore
- 16.29% Share for Health, Oct-11 Comscore
If these stats weren’t enough to dampen your holiday spirit, Google now is even prioritizing their own products above the paid search listings on their search engine. This creates a major conflict for the advertisers that have made Google what it is today and may force those clients to pay even more if their advertising is to remain competitive in this new bidding landscape. Google clearly is leveraging its position of power with consumers to launch new products and ensure their own success. The latest example of this is the promotion of their Chrome browser on the Google homepage. As you can see from the chart below, Chrome is rocketing to the position of #1 browser, a rank it is projected to achieve by June 2012.
Google is now a major threat to every business in the publishing and advertising marketplace. In the short term, while they may appear to be a superior partner that provides revenue and marketing innovation, I believe that over the long term they are eroding the value of each and every business in the media sales and publishing value chain. And, worst of all, they are charging heavily for the privilege. I’d estimate that for every dollar spent by an advertiser in the media buying process, Google captures upwards of 25% in tolls (via their various ad services, DFA, Invite, DFP, AdX, Motif, Admeld, etc.), thereby minimizing revenue and profits for publishers and other vendors along the way
So as you reflect on 2011 and consider whom you want to partner with in 2012, give some thought to the short versus the long term. What is your value proposition to clients? And who do you ultimately want to run your business … the Grinch or You?
Have a great holiday and Happy New Year!
The views expressed here reflect the views of the author alone, and do not necessarily reflect the views of 24/7 Real Media, its affiliates, subsidiaries or its parent company, WPP plc
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Traditionally, only the mammoth Hollywood studios could afford to work with 3D—it’s too expensive to build the necessary, air-conditioned 24 hours a day, server farms. The company behind Despicable Me decided to try something new, and cut the AC.
Illumination Entertainment, the company behind Despicable Me, decided to try something new. Instead of using air-conditioned server farms to render images, the company asked IBM to built a customized server farm using the iDataPlex system, a processing system that cuts down on energy use by 40% compared to traditional server farms.
The iDataPlex has two key advantages: a flexible configuration that doubles the amount of systems that can run in a single IBM rack and the ability to run an ambient temperature room (no costly air-conditioning required). The system has been on the market for over a year, but Illumination is the first studio to use it for animated film.
This doesn’t mean that any scrappy studio with a dream can now produce a high-end 3-D animated film. Illumination used a 330-person team of artists, producers, and support staff to produce 142 terabytes of data. And the rendering farm, which processed up to 500,000 frames per week, was built in conjunction with Mac Guff Ligne, a French digital production studio.
But the iDataPlex gives Illumination a leg up in the graphics rendering process. Illumination Entertainment’s server farm, for example, is the size of four parking spots. That’s half the amount of space the company initially allotted to the farm. “Oftentimes a small studio like Illumination really wants to put their energy behind creating as compelling of content as possible,” explains Steve Canepa, Vice President, Media & Entertainment Industry at IBM. “By minimizing the technological issues associated with building and managing the [rendering] environment, we allow studios to reduce the amount of time, energy, and resources necessary to create an underlying technological platform.”
It’s a compelling idea for studios—even major ones—that want to cut costs and look environmentally conscious at the same time. IBM is already working with a number of other studios to implement similar solutions. Canepa concedes that studios could build similar systems by purchasing off-the-shelf racks and processors, but the iDataPlex’s unique configuration of servers packs a lot of processing power into a small space—and that’s not easy to replicate. Don’t expect these rigs to be appearing in suburban garages anytime soon.
Fast Company empowers innovators to challenge convention and create the future of business.
Apple iPhone owners are downloading almost twice as many paid applications as Google Android users, according to data from Google‘s mobile ad company AdMob. AdMob included this chart in its monthly mobile stats report.
AdMob doesn’t provide any explanation for this phenomenon, so here are our guesses:
- iTunes has a smooth purchasing/payment process. Google’s marketplace might not be as good.
- iTunes does a good job of highlighting popular paid apps. Android isn’t as good at that.
- There are probably more paid apps on a relative basis for iPhone than Android.
- The iPhone is positioned as a premium phone. Verizon offers some Android phones for free, same with T-Mobile. If you get your phone for free, you might be less willing to spend for applications. (Or be the type of users who buys paid apps.)
Follow the Chart Of The Day on Twitter: www.twitter.com/chartoftheday
Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.
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