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Introduction to crowd-sourcing, crowd-rating and the potential of developing a crowd-funding platform.

Introduction to crowd-sourcing, crowd-rating and the potential of developing a crowd-funding platform.

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Connecting to the Crowd Connecting to the Crowd Presentation Transcript

  • Connecting to the Crowd11.08.2011 Richard von Kaufmann // co-founder // concepting director
  • Zipipop helps with social mediaguidance, marketing, analysis,concepting and collaboration.
  • The Wisdom of Crowds
  • The Wisdom of CrowdsFrancis Galton, 1906Butchered weight:Average of crowd guess: 1,197 poundsActual weight: 1,198
  • Jelly Bean JarAverage of 56 students=871Actual amount=850Only one student guessed better
  • Wisdom of the crowds at work
  • Hive Mind
  • Crowd-wisdom on the Web420m unique monthly visitors 60% of web-servers run Linux 40 million monthly visitors20 million articles300 languages
  • Upside down thinkingJimmy Wales, the founder of Wikipedia,is not fond of the word crowdsoucingbecause the etymology of the word isrelated to outsourcing — which is anupside down way of looking at what isgoing on online.“Here is something people are trying todo — let’s help them do that. And whatyou get out of it in the end maybe anamazing product” Jimmy Wales, founder of Wikipedia, talking at Internet Week Europe this week.
  • How Google uses crowd-wisdom link = vote
  • Crowdfunding is a reality
  • A Public Art project in New York
  • Public votes which projects are funded
  • Crowdfunding charity work
  • Prediction MarketsIn 2007, players in the Hollywood Stock Exchange correctly predicted 32 ofthe 39 major-category Oscar nominees and 7 out of 8 top-category winners.
  • Serious BusinessCorning, Renault, Eli Lilly, Pfizer,Siemens, Masterfoods, Arcelor Mittaland other global companies arelisted as Lumenogic (previouslyNewsFutures) customers.
  • Innocentivehttp://www.youtube.com/watch?v=cac-XdXL-Qk&feature=related
  • Iceland’s crowdsourced constitution
  • More Finnish crowdsourcing
  • http://collabdocs.wordpress.com/2011/09/20/umbrella-of-crowdsourcing/
  • Four conditions of a smart crowd:• Diversity of opinion• Independence• Decentralization• Aggregation
  • Diversity of Opinion• private information
  • Independence• not influenced by others
  • Decentralization• specialist, local knowledge
  • Aggregate • mechanism for turning private judgements into collective decisions
  • Scale it up• more input produces better results
  • information + errorcrowd error probability averaged = ~0(i.e -10+50-60+20=0)“information” with reduced error
  • Crowdsourcing SolutionsIn recent years there has been anumber of services showing howcommunities can collaborativelycome up with successfulsolutions to problems andquestions.
  • Web of Trust
  • Nokia supported crowd-rating platform
  • The power of intuition are New findings in cognitive science ) showing that intuition (gut feeling ensed can be thought of as “cond any experience” and in m ve circumstance s can be more effecti y. than in depth analytical stud
  • Rating parameters (intuition) User’s comparison to the wisdom of the crowd
  • How it can go wrongIf the conditions are not right it can go badly wrong.
  • Easily influenced
  • Information Cascade
  • Information CascadeGroup 30% better on average
  • The Non-conformist Imperfect information
  • Imperfect Information Better restaurant
  • Kiitos!Richard von KaufmannConcepting Director, Co-founderpuh. 045 11 222 73s-posti: richard@zipipop.comwww.zipipop.com
  • Slideshare Resourceshttp://www.slideshare.net/tramp0/crowdfunding-for-highgrowth-ventureshttp://www.slideshare.net/GijsbertKoren/crowdfunding-opportunities-for-crowdfunding-startupshttp://www.slideshare.net/bryanmiller/the-future-of-fundraising-in-a-networked-society