Crowdfunding Boosts from Embedded Friendships, Not Just Strong Ties
Crowdfunding is a way for new entrepreneurs to get money for their projects. This study looked at how close friendships and connections on social media affect friends' decisions to fund these projects. They found that friends are more likely to give money if they are close or have a strong connection. Also, friends give more money when they are more connected. The study shows that how close friends are affects their decision to fund a project, depending on how successful they think the project will be. Having strong connections helps a project get more funding. This goes against the idea that only close friends help with crowdfunding, showing that connections also play a big role.