5 Responses to “crowdsourcing”

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  1. Ben

    I think the next big crowdsourcing app is going to be Google’s Health page. It falls right along your notion of looking for another opinion but might also cut down on a lot of leg work + money: something we over at MilkYourMoney.com are tackling daily.

    Here is Google Blog’s announcement: http://googleblog.blogspot.com/2008/02/google-health-first-look.html

  2. The only problem is when the crowd runs off of a cliff (a la sub-prime, Bear Sterns, etc.).

    Question: Where does being contrarian fit into this?

  3. @No Debt Plan: True, and I guess that’s a critical distinction to be made: being contrarian is more about how you use the information that you’ve gathered, crowdsourced or otherwise, instead of the way in which it’s gathered. If I want to be contrarian about the stock market I’m still going to examine mass population attitudes (the run-up in gold is a good example of something exhibiting “dumb” crowd activity).

  4. Mike Malina

    You mention Hollywood Stock exchange, but what they’re doing at Media Predict is more interesting (www.mediapredict.com).

    They’ve gotten media companies to use a market system to actually put out content. So the crowd takes the role of editor, A&R rep, and more.

    I think market-based investment systems are the way to go for crowdsourcing. Mere voting (like at Digg) isn’t a good way to drive decisions — people have no incentive to give good information.