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Yumio Saneyoshi, VP Products, Fixya


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Slide Deck from 'Running a Startup with Crowd-sourced Content' at EntrepreneurTrek Mar 22 at Stanford GSB

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Yumio Saneyoshi, VP Products, Fixya

  1. 1. YUMIO SANEYOSHI VP OF PRODUCT – FIXYA Running a Startup with Crowd-sourced Content
  2. 2. 6 Billion 300 Million 600 Million Answers 30 Million 15 Million 10 Million
  3. 3. Experts
  4. 4. Wisdom of Crowds
  5. 5. Crowd-Sourcing Content for Your Startup <ul><li>Crowd-sourced Communities as Marketplace </li></ul><ul><ul><li>Buyers & Sellers </li></ul></ul><ul><ul><li>Currency of Appreciation </li></ul></ul><ul><ul><li>What makes your marketplace special - Reputation </li></ul></ul><ul><ul><li>Why mixing advertising is hard </li></ul></ul><ul><li>Tips to Running a Crowd-sourced Community </li></ul><ul><ul><li>Motivation Thru Thank You’s, Points </li></ul></ul><ul><ul><li>Channeling Power Users </li></ul></ul><ul><ul><li>Fighting Abuse </li></ul></ul><ul><ul><li>Hiring Community Managers </li></ul></ul>
  6. 6. Content Site = Marketplace
  7. 7. Crowd-sourced Communities are a Marketplace <ul><li>Sellers = providers of content </li></ul><ul><li>Buyers = consumers of content </li></ul><ul><li>Currency = Appreciation </li></ul><ul><li>Repeated Transactions Sustained by Reputation </li></ul><ul><li>Like a Bazaar </li></ul><ul><li>Popularity = Quality/Quantity of your contribution </li></ul>
  8. 8. Long Tailed Singleton Focus on Diversity
  9. 9. Focus on Attracting Sellers of Unique Content <ul><li>Unique Sellers are the key to your marketplace (you will not win selling a commodity) </li></ul><ul><li>How do you let the Sellers earn appreciation </li></ul><ul><li>Unique content is not just from power users, focus on the longtail singletons – they provide the breadth/diversity </li></ul>
  10. 10. How to Channel Your Power Users <ul><li>Crowd-sourced sites reward people with a lot of time </li></ul><ul><li>You will find people who spend 15 hours a day on your site </li></ul><ul><li>Direct them toward editing, content cleanup – fighting Abuse </li></ul>
  11. 11. Abuse <ul><li>Fight Abuse Hard </li></ul><ul><ul><li>What you do to First 1000 abuses will determine your quality one year later </li></ul></ul><ul><ul><li>Once you set a tone, let the moderators go at it (everyone loves to be a sheriff) </li></ul></ul><ul><ul><li>Fight them by not giving them the satisfaction of a response (delete them, but don’t let them be aware) </li></ul></ul>
  12. 12. Thank You = $1000
  13. 13. Points = Priceless
  14. 14. Chief Thank You Officer
  15. 15. Motivation Thru Thank You’s <ul><li>Thank You’s </li></ul><ul><li>People are hungry for appreciation </li></ul><ul><li>A thank you is worth a thousand dollars </li></ul><ul><li>Points </li></ul><ul><li>People will jump thru hoops for points </li></ul><ul><li>Points can be completely meaningless </li></ul>
  16. 16. Community Managers as Chief Thank You Officer <ul><li>Energy over experience </li></ul><ul><li>Online communication is very different from offline communication </li></ul><ul><li>Professional Customer Service people are ill-suited </li></ul><ul><li>Bloggers, Experts in the Field are also ill-suited – its not about the content </li></ul>
  17. 17. Reputation = Gold
  18. 18. Currency = Reputation <ul><li>Repeated Games Game Theory (we will meet again) </li></ul><ul><li>History of Participation </li></ul><ul><ul><li>History of Participation as the only currency of legitimacy </li></ul></ul><ul><ul><li>Company reps, Librarians, Experts, Professionals will want their badges to sidestep </li></ul></ul><ul><ul><li>Ultimate meritocracy breeds competition, and motivation for new entrants => Diversity </li></ul></ul><ul><li>Key is that Currency can only be earned within the system </li></ul>
  19. 19. Why Advertising is Hard to Mix <ul><li>Advertising by interested parties strikes at the heart of the reputation economy </li></ul><ul><li>Recent Episodes with Yelp </li></ul><ul><li>General Content – difficult to target - YouTube, Yahoo! Answers have difficulty attracting advertisers </li></ul><ul><li>Wikipedia’s non-profit status may be key to its success </li></ul><ul><li>There is always Google… </li></ul>
  20. 20. Opportunities for Crowd-sourcing <ul><li>Where Currently “Experts” & “Elites” Are Barriers to Information, Opportunity Awaits </li></ul><ul><li>Medical </li></ul><ul><li>Legal </li></ul><ul><li>Education </li></ul><ul><li>Real Estate </li></ul><ul><li>News </li></ul><ul><li>Fashion </li></ul><ul><li>Repair </li></ul>