Crowdfunding and Crowdinvesting in Crises: Resilience or Antifragility? (Gestão Contemporânea)

Summary

• The study asks whether crowdfunding and crowdinvesting in crises reflect organizational resilience or antifragility, using a narrative literature review.p.2
• Evidence from unstable contexts shows that collective financing diversifies resource sources, strengthens sociotechnical support networks and sometimes stimulates organizational transformation.p.2
• In Myanmar after the 2021 coup, reliance on online fundraising contrasted with traditional models based on territorial taxation or state support.p.4
• In the Rio Grande do Sul floods, donations were coordinated online by companies such as Mercado Livre, Gol and BRF.p.4
• Crowdinvesting involves equity, hybrid securities or instruments with an expected return, which brings it closer to capital markets logic.p.5
• In Ukraine, crowdfunding was quickly adopted as a recurrent social practice during the war.p.10
• Results suggest crowdfunding operates along a continuum between resilience and antifragility, depending on the intensity of mobilization and the consolidation of networks.p.11

Key insights

1. Organizational resilience is the ability to maintain essential functions and adapt to external shocks while preserving operational continuity.p.6
2. Antifragility, a concept proposed by Nassim Nicholas Taleb, describes systems that benefit from stress, volatility and disorder.p.6
3. Proposition P2 states that mobilizing resources via crowdfunding platforms strengthens support networks that sustain organizational resilience in crises.p.8
4. Proposition P3 states that when crowdfunding generates new organizational and productive arrangements in response to a crisis, there are signs of antifragility.p.8
5. The data analyzed are bibliographic and documentary, drawn from academic publications and institutional reports.p.9
6. Managers in uncertain periods can treat crowdfunding as a strategic tool for resource diversification and for strengthening support networks.p.12
7. The study's reliance on a narrative review and secondary evidence, without primary data, limits the generalization of its results.p.14