Wisdom of Crowds
This Article is an excellent summary of the wisdom of crowds idea and of several online projects trying to leverage that wisdom in practical or profitable ways.
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March 22, 2007 - Posted by JoeDuck | Web 2.0
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I will read the article and consider the points presented very carefully at some later time but right now my reaction whenever I hear terms like ‘crowd’ or ‘swarm’ is to think of Extraordinary Popular Delusions and The Madness of Crowds.
Well, I read the link. I recall a novel that hit the best seller pages back in the sixties “Naked Came The Stranger”. It was a group effort of ‘write your own chapter’ limited to a group of classmates or something.
Now that Sports Book game would have only one metric that counts: do the players beating the oddsmaker in that game beat the oddsmakers in the Vegas sportsbook?
I would agree with the ‘evaluating content rather than creating it’. Unfortunately.