{"id":3600,"date":"2025-07-08T15:59:03","date_gmt":"2025-07-08T15:59:03","guid":{"rendered":"https:\/\/aomtodayprod.wpenginepowered.com\/?p=3600"},"modified":"2025-07-08T15:59:03","modified_gmt":"2025-07-08T15:59:03","slug":"crowdfunding-reshaped-the-global-economy","status":"publish","type":"post","link":"https:\/\/www.aom.org\/today\/crowdfunding-reshaped-the-global-economy\/","title":{"rendered":"Crowdfunding Reshaped the Global Economy"},"content":{"rendered":"<p>By <a href=\"https:\/\/www.aom.org\/today\/author\/daniel-butcher\/\" target=\"_blank\" rel=\"noopener\">Daniel Butcher<\/a><\/p>\n<p>Crowdfunding platforms such as GoFundMe, through which hundreds of millions of people have donated more than $30 billion for mostly charitable causes since it launched in 2010, also provide nonfinancial support via social media. For example, in 2024 alone, GoFundMe users drove support for causes they care about through 55 million-plus shares across various social-media channels and via email.<\/p>\n<p>Academy of Management Scholar <a href=\"https:\/\/www.aom.org\/today\/dean-shepherd\/\" target=\"_blank\" rel=\"noopener\">Dean Shepherd<\/a> of the University of Notre Dame said that crowdfunding has opened the world to a new way of doing good. This form of support for micro-entrepreneurs\u2019 mini-projects affects the global economy.<\/p>\n<p>\u201cIn some ways, it\u2019s like the economy itself has these little probes into an uncertain environment, and some are going to fail, and some are going to gain traction,\u201d Shepherd said. \u201cAnd all of that\u2019s a good thing, because it creates innovation, so we\u2019re really just pitching out a whole lot of different potential opportunities; some are going to fail, and that\u2019s perfectly fine, but some are going to be successful, and those successful ones may actually lead to something very interesting.<\/p>\n<p>\u201cCrowdfunding was quite an innovation,\u201d he said. \u201cIt came from a change in regulation that actually freed up a lot of little bits of money for little entrepreneurs who may actually become highly successful entrepreneurs.<\/p>\n<p>\u201cIt could be one of the greatest innovations to allow for more everyday entrepreneurship, and future superstars may actually even come from some of those smaller programs and initiatives that get off the ground thanks to crowdfunding.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Daniel Butcher Crowdfunding platforms such as GoFundMe, through which hundreds of millions of people have donated more than $30 billion for mostly charitable causes since it launched in 2010, also provide nonfinancial support via social media. For example, in 2024 alone, GoFundMe users drove support for causes they care about through 55 million-plus shares [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71,22,21,75],"tags":[],"sp_smart_badges":[],"ppma_author":[70],"class_list":["post-3600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-communicating","category-entrepreneurship","category-innovation","category-investors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Crowdfunding Reshaped the Global Economy - Academy of Management Today<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.aom.org\/today\/crowdfunding-reshaped-the-global-economy\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Daniel Butcher\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.aom.org\\\/today\\\/crowdfunding-reshaped-the-global-economy\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.aom.org\\\/today\\\/crowdfunding-reshaped-the-global-economy\\\/\"},\"author\":{\"name\":\"Daniel Butcher\",\"@id\":\"https:\\\/\\\/www.aom.org\\\/today\\\/#\\\/schema\\\/person\\\/d1297a59039d9ca7bac9d9f0952e508c\"},\"headline\":\"Crowdfunding Reshaped the Global Economy\",\"datePublished\":\"2025-07-08T15:59:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.aom.org\\\/today\\\/crowdfunding-reshaped-the-global-economy\\\/\"},\"wordCount\":258,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.aom.org\\\/today\\\/crowdfunding-reshaped-the-global-economy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.aom.org\\\/today\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/hand-globe-workers.webp\",\"articleSection\":[\"COMMUNICATING\",\"ENTREPRENEURSHIP\",\"INNOVATION\",\"INVESTORS\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.aom.org\\\/today\\\/crowdfunding-reshaped-the-global-economy\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.aom.org\\\/today\\\/crowdfunding-reshaped-the-global-economy\\\/\",\"url\":\"https:\\\/\\\/www.aom.org\\\/today\\\/crowdfunding-reshaped-the-global-economy\\\/\",\"name\":\"Crowdfunding Reshaped the Global Economy - 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Previously, he was a writer and the Finance Editor for Strategic Finance magazine and Management Accounting Quarterly, a scholarly journal, at the Institute of Management Accountants (IMA). Prior to that, he worked as a writer\\\/editor at The Financial Times, including daily FT sister publications Ignites and FundFire, as well as Crain Communications\u2019s InvestmentNews and Crain\u2019s Wealth, eFinancialCareers, and Arizent\u2019s Financial Planning, Re:Invent|Wealth, On Wall Street, Bank Investment Consultant, and Money Management Executive. He earned his bachelor\u2019s degree, Cum Laude, from the University of Colorado Boulder and his master\u2019s degree from New York University. 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Previously, he was a writer and the Finance Editor for Strategic Finance magazine and Management Accounting Quarterly, a scholarly journal, at the Institute of Management Accountants (IMA). Prior to that, he worked as a writer\/editor at The Financial Times, including daily FT sister publications Ignites and FundFire, as well as Crain Communications\u2019s InvestmentNews and Crain\u2019s Wealth, eFinancialCareers, and Arizent\u2019s Financial Planning, Re:Invent|Wealth, On Wall Street, Bank Investment Consultant, and Money Management Executive. He earned his bachelor\u2019s degree, Cum Laude, from the University of Colorado Boulder and his master\u2019s degree from New York University. You can reach him at dbutcher@aom.org or via LinkedIn.","sameAs":["https:\/\/aomtodayprod.wpenginepowered.com","https:\/\/www.linkedin.com\/in\/danielbutcher\/"],"url":"https:\/\/www.aom.org\/today\/author\/daniel-butcher\/"}]}},"authors":[{"term_id":70,"user_id":4,"is_guest":0,"slug":"daniel-butcher","display_name":"Daniel Butcher","avatar_url":{"url":"https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/01\/DanButcher_Academy-of-Management.webp","url2x":"https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/01\/DanButcher_Academy-of-Management.webp"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"rttpg_featured_image_url":{"full":["https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/03\/hand-globe-workers.webp",1000,720,false],"landscape":["https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/03\/hand-globe-workers.webp",1000,720,false],"portraits":["https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/03\/hand-globe-workers.webp",1000,720,false],"thumbnail":["https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/03\/hand-globe-workers-150x150.webp",150,150,true],"medium":["https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/03\/hand-globe-workers-300x216.webp",300,216,true],"large":["https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/03\/hand-globe-workers.webp",800,576,false],"1536x1536":["https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/03\/hand-globe-workers.webp",1000,720,false],"2048x2048":["https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/03\/hand-globe-workers.webp",1000,720,false],"owl_elementor_thumbnail":["https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/03\/hand-globe-workers-600x432.webp",600,432,true],"owl_elementor_team":["https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/03\/hand-globe-workers-350x450.webp",350,450,true],"owl_elementor_testimonial":["https:\/\/www.aom.org\/today\/wp-content\/uploads\/2025\/03\/hand-globe-workers-100x100.webp",100,100,true]},"rttpg_author":{"display_name":"Daniel Butcher","author_link":"https:\/\/www.aom.org\/today\/author\/daniel-butcher\/"},"rttpg_comment":1,"rttpg_category":"<a href=\"https:\/\/www.aom.org\/today\/category\/communicating\/\" rel=\"category tag\">COMMUNICATING<\/a> <a href=\"https:\/\/www.aom.org\/today\/category\/entrepreneurship\/\" rel=\"category tag\">ENTREPRENEURSHIP<\/a> <a href=\"https:\/\/www.aom.org\/today\/category\/innovation\/\" rel=\"category tag\">INNOVATION<\/a> <a href=\"https:\/\/www.aom.org\/today\/category\/investors\/\" rel=\"category tag\">INVESTORS<\/a>","rttpg_excerpt":"By Daniel Butcher Crowdfunding platforms such as GoFundMe, through which hundreds of millions of people have donated more than $30 billion for mostly charitable causes since it launched in 2010, also provide nonfinancial support via social media. For example, in 2024 alone, GoFundMe users drove support for causes they care about through 55 million-plus shares&hellip;","_links":{"self":[{"href":"https:\/\/www.aom.org\/today\/wp-json\/wp\/v2\/posts\/3600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.aom.org\/today\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.aom.org\/today\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.aom.org\/today\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.aom.org\/today\/wp-json\/wp\/v2\/comments?post=3600"}],"version-history":[{"count":0,"href":"https:\/\/www.aom.org\/today\/wp-json\/wp\/v2\/posts\/3600\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.aom.org\/today\/wp-json\/wp\/v2\/media\/3602"}],"wp:attachment":[{"href":"https:\/\/www.aom.org\/today\/wp-json\/wp\/v2\/media?parent=3600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.aom.org\/today\/wp-json\/wp\/v2\/categories?post=3600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.aom.org\/today\/wp-json\/wp\/v2\/tags?post=3600"},{"taxonomy":"sp_smart_badges","embeddable":true,"href":"https:\/\/www.aom.org\/today\/wp-json\/wp\/v2\/sp_smart_badges?post=3600"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.aom.org\/today\/wp-json\/wp\/v2\/ppma_author?post=3600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}