I am currently reading (that is, books on CD) The Wisdom of Crowds by James Surowiecki. The basic thesis is that a group of people, when thinking independently, can create a result that is often better than that of any individual group member. So if you hold a jellybean counting contest, then the average answer of the 100 people that participate will be closer to the exact amount than any one person’s individual answer. And on a broader scales, the opinions and interests of a mass group of people is more important than the decisions of any single, dominant individual. And this notion has been able to drive and to shape business, politics, and society in many cultures.
I previously wrote about Crowdrise, a unique site for crowd-sourcing, fund raising, and social networking. And I can’t stay away from the subject, because I believe crowd sourcing is one of the most powerful trends currently on the web. Currently I have been very interested in my friend Josh Tetrick’s site, 33Needs, a crowd sourcing site using social investing and entrepreneurial spirit to solve the world’s biggest needs. The site enables the masses to make small donations in powerful entrepreneurial projects taking place throughout the world.
Of course, there is also Kickstarter, the largest funding platform for start-up projects around, in which thousands of investors can invest money to “kick start” an individual’s creative idea or business proposal. An interesting twist to Kickstarter is that a project must reach its funding goal before time runs out or no money changes hands.
Those are a few small examples. There are literally hundreds of sites that apply crowd sourcing to various genres, sectors, and industries. Here is a wonderful list of crowdsourcing projects on this Wikipedia Page – also a great resource if you need to find a site in a hurry.
What does all of this mean for society? The revolution is already underway. It started with Linux and has been gaining steam ever since then. New forms of creation taking place all over the web, powered by everybody. There are new forms of trade, new forms of commerce, new forms of capitalism, and new forms of construction. A movie can be created by the masses online. A house can be built. A 100 mpg car. A political campaign.
It is a powerful concept.
The power of crowds
