Question regarding Kickstarters

I have a question. I've been seeing Kickstarters lately that have a $$dollar amount they state: All or nothing. This project will only be funded if it reaches its goal by....
So does this mean that they return all the money to the people that have pledged or do they not process any of the pledges until they meet their goal. It also seems to me that if say they have a goal of $100,000 and they only reach say $80,000.... don't they think it is only fair they proceed and reap the remaining $$'s when the game is released??? Games never used to be funded prior to starting... seems like they want the public to buy before seeing??

All Kickstarters are all or nothing. It is how it works. They do not take your money unless it is successfully funded. Remember that if they don't make the game EVER, you lose your money. I have so many outstanding for years now that I'm so over pledging.

Ana

I have given up on Kickstarters in the main. I had to get SO picky about what projects I would support

EDIT :

Having said that, I HAVE just pledged for the Pinhead Games Nick Bounty Kickstarter.
Because my past experiences with this company have been excellent