In 2008, TIME Magazine described this new practice as ?oone part social networking and one part capital accumulation?

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In 2008, TIME Magazine described this new practice as ?oone part social networking and one part capital accumulation?

Before we answer the above clue let us mention once again the contestants for today:

Carol Hansen, a retired database administrator from San Francisco, California
Carol Hansen on Jeopardy!
Pete Vanderhyden, an airline pilot from Murrieta, California
Pete Vanderhyden on Jeopardy!
James Holzhauer, a professional sports gambler from Las Vegas, Nevada (21-day total: $1,608,627)
James Holzhauer on Jeopardy!

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It is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet.[1] Crowdfunding is a form of crowdsourcing and alternative finance. In 2015, over US$34 billion was raised worldwide by crowdfunding.

Although similar concepts can also be executed through mail-order subscriptions, benefit events, and other methods, the term crowdfunding refers to Internet-mediated registries.[4] This modern crowdfunding model is generally based on three types of actors: the project initiator who proposes the idea or project to be funded, individuals or groups who support the idea, and a moderating organization (the "platform") that brings the parties together to launch the idea.

Crowdfunding has been used to fund a wide range of for-profit, entrepreneurial ventures such as artistic and creative projects, medical expenses, travel, and community-oriented social entrepreneurship projects. It has also been criticised for funding quackery, especially costly and fraudulent cancer treatments.

The answer for: In 2008, TIME Magazine described this new practice as ?oone part social networking and one part capital accumulation? is as following:

POSSIBLE SOLUTION: What is crowdfunding?

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