TechFriday: Lots of hype, lots of early backers for MAGFAST

Posted By on March 24, 2017

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A couple years ago I backed Seymour Segnit’s ThingCharger project and was very pleased with the "plug-charger" gizmos. After learning from his previous launch, the sharp marketer is giving a new "system project" a try. Take two, if you will. This time he has added and improved the earlier design and added a "kit" worth of component products that should offer a variety of ways to charge your "things." He calls the new system MAGFAST … since it used magnets I presume?

As a previous buyer and backer, I attended the launch party and live video in an attempt to attract pre-production dollars for the start-up his new company. I knew it would successfully raise the low threshold of $300,000 just by the prep Seymour and his family put into the launch hype … and within an hour surpassed the goal. As of this writing there are nearly 2000 backers and $700,000 in pre-order pledges. Hopefully the production cost, business overhead and inventory issue can be managed a little more efficiently than the last time? 

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Yes … I’m backing again and looking forward to regular progress reports, something Seymour is excellent at … along with his desire to be ecologically responsible. As a consumer, many buyers/investors are happy to spend a few dollars more for a quality, premium product IF they know the company is doing it part to minimize its environmental footprint. They have started already by planting trees.

Comments

  • Sooz Jacobi-Johnson

    Well, too bad Seymour and Amy ‘disappeared’ the Thingcharger company so quickly, leaving those of us who had been parted with our money owning very expensive doorstops. I can’t get updated charging tips for my new phone and other devices, rendering the chargers useless. Now they are conning another generation of suckers with Magfast. Taking bets how long before Magfast disappears. It’s the exact same scam – a slick marketing campaign, a LOT of money raked in, and many thousands of people either with no product at all, or useless products due to a shut-down company.

    • I worry about the new company as well and concerned Seymour could be a “fast talker” and “do-good-er” in the marketing of another Kickstarter. If I didn’t have such success with the first product, I probably would not have given a few buck to the second Magfast. Yup, a lot of money, but if successful, the company would be worth more than just pulling a fast one. That said, they need to move it along quick as technology will surely pass Magfast devices by. Thanks for sharing your thoughts that are likely what many previous “investors” are thinking.

      • Sooz Jacobi-Johnson

        I googled him. He has a lot of pokers in the fire – a self-help book on Amazon, seminars, a self-help program. I believe he is nothing more than a slick huckster good at roping people in, and is interested solely in making a buck. Or a million bucks. The integrity and support of the product is not important. Thingcharger has left thousands of people feeling ripped off.

        • I hope not … because he and his wife are training the next gen of hucksters if that is the case. We’ll find out since the latest Kickstarter Magfast has bumped up the game. Eventually the “game” will catch up to him if it is scam and not just a “share the risk” viable business venture. Again, thanks for sharing your thoughts.

Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.