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Old industry is governed by experts
Old model:
An “expert” tells you what is good
Examples:
Zagat (food)
Roger and Ebert (movie reviews)

NY Times review (books)
Subprime lending (banks)
expert at center
user at the edge
Problem:
Experts screw up

Experts can be bribed
Experts don't represent the “long tail”
In new model no one is in charge
New model:
Collective wisdom is the expert
Examples:
Yelp (food)

Netflix (movies)
Amazon Reviews (books)
P2P Lending, Alibaba (banks)
winners are aggregators
Solution:


Solutions are data driven
Cost savings as you remove middlemen
Profit as you engage “long tail”
How?
Start with the heart
Build community
Make it fun!
Make it work!

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Swarm Showcase at platform coop

  • 1.
  • 2. Old industry is governed by experts Old model: An “expert” tells you what is good Examples: Zagat (food) Roger and Ebert (movie reviews)
 NY Times review (books) Subprime lending (banks) expert at center user at the edge Problem: Experts screw up
 Experts can be bribed Experts don't represent the “long tail”
  • 3. In new model no one is in charge New model: Collective wisdom is the expert Examples: Yelp (food)
 Netflix (movies) Amazon Reviews (books) P2P Lending, Alibaba (banks) winners are aggregators Solution: 
 Solutions are data driven Cost savings as you remove middlemen Profit as you engage “long tail”