Wednesday, February 14, 2007
Wisdom of Crowds Business Model - My Prediction Revisited
I'm having a real hard time not saying "I told you so" but as I was doing a wee bit of maintenance around mshift I came across an old post about how one entrepreneur (Robert May) thought he could build a business based on the wisdom of crowds. Some call this democracy but democracy belongs in government (cause noone wants it anywhere else) and the business world operates much like a monarchy (not a dictatorship). There has to be a single person at the top responsible for creating the vision and that person must have a strong team that firmly believes in that leaders vision... A lot of pastors get this right when they say "...Where there is no vision, the people perish". Applying that thought to the open source input business model and you'll get the same result. Just like I predicted in July of 2005. Here was my original prediction.Personally, I don't think this business experiment has a chance of succeeding because of the lack of ownership a crowd presents. The inability to issue responsibility to a specific person in the business [crowd] will bring it down.
Now if we check the site where it all started we find this message.
The Business Experiment is currently unavailable while we make some site upgrades.
Thank you for you continued support. We'll be back online soon.
Are they down for the count? Maybe Robert May will ping me with an update, I hope so.
Interestingly enough, Robert posted last week on his blog (BusinessPundit) about the Madness of E-Crowds. Think he's a changed man? Even if he hasn't switched polarity I have to give him credit for trying something new... failure is highly underrated, often it's byproduct is success. Good luck Robert.
Posted By Jason Dowdell at 11:14 PM
Permanent Link: Wisdom of Crowds Business Model - My Prediction Revisited
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