Plastc is closing after rising $9M from backers

plastc.com

19 points·ptrptr··5 comments

As a backer, I'm slightly disappointed, but not surprised given the constant delays. The whole potential for Plastc was to have access to a number of cards w/o physically carrying them. Even after putting my wallet on a severe diet, the appeal of having ACCESS to everything instantly and being able to manage them securely was worth taking a shot at being an early adopter for the $150 backer price. In the end, while this is the only project I've ever backed that fell through, it re-enforced my commitment check: e.g. - don't back any project on the web that costs more than you're willing to blow in Vegas on food & entertainment for a day.

Posted yesterday: https://news.ycombinator.com/item?id=14159963

vkou's comment illustrates a possible reason as to why they've failed:

> Immediately the lightbulb went on in Ryan’s mind that there was a significant shift happening in the market from a physical credit card to digital payments. His mind went wild as he dreamed about what the future of digital payments could look like and within a short time after he launched Plastc."

So, after shopping at a store that sells fruit smoothies and sneakers (?), and being told that nobody cares enough about a universal credit card to use the free Google Wallet one, he concluded that the future is a universal credit card that people will pay hundreds of dollars for?

Nobody but the backers are surprised and nobody except the backers care.

Really not noteworthy enough to be posted twice in 24hrs.

i would love to know who are those investors who pulled out last minute and why.

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