Crowdfunding with Peter Diamandis

Listened to the Tim Ferriss / Peter Diamandis podcast today and it got me interested in crowdfunding as a possible resource for testing new material, prior to production.

Previously I had been opposed to crowdfunding, because I don't like the idea of people paying for a product, which they have to buy again later. 

But... it could be an excellent way to market test film ideas at the script stage, or earlier. I imagine posting a trailer with the highlights, a short breakdown of the story, and then offer to buy the film for $5. 

If enough people buy it, then it gets made. If not, the money gets refunded.

Quote from the interview, regarding crowdfunding:

You get to find out not only does the world want it, but in-fact, what color, what size, what shape. And it's the most honest vote you can. Who cares what a monkey survey says, it's when people put their credit card down and vote with their wallet. That's what really matters. 

It's zero dilution, you test your marketplace, you get out in front, and more importantly you build a community.  

Doesn't that sound like something that could (and should) be applied towards independent filmmaking?

Source: Tim Ferriss Podcast