Just checked in on Park & Diamond’s progress in delivering a foldable bicycle helmet and found that, surprise, there is none. The last company update is not from the company, but from Indiegogo, the investment firm who hawked the concept helmet based on little more than a slick public relations blast. That update said, “opps.” The last update from the actual company was back in March of 2022 and provided nothing more than hollow claims of progress.
The investor comments on Indiegogo are flooded with requests for refunds. My gut feeling is that most investors won’t see a refund or a helmet.
I’m done covering the Park & Diamond saga for now. It does not appear that a helmet is coming. I warned about this concept after first becoming aware of it in 2019. I hope some people listened and didn’t lose money.
ADVICE FOR INVESTING
When pitched on a product that requires a new, unproven technology or material, be very wary. If it is offered by a company that hasn’t made the product yet, be even more wary. Finally, understand that crowd-funding sites are high-risk investments, not purchases. They are not like buying from your local bike shop!
If you want a helmet or bicycle or an e-bike to use and enjoy right now, go to your local bike shop. If you want to invest in a promise of a future product, dump some dough (that you can afford to lose) into a crowd-funded project and forget about it. If a product does show up, your investment paid off. Maybe.
PREVIOUS COVERAGE ON PARK & DIAMOND