2 posts tagged “wisdom”
On the topic of crowd wisdom, you must have a look at PicksPal, a fantasy sports betting site. It’s all for fun, not money, but interestingly, PicksPal has an overall 63% win rate, which is pretty incredible. Some of the recent results can be viewed here. PicksPal really shows the predictive power of large groups (it has more than 100,000 members) (especially when the group has nothing to lose and chooses freely) and if the win rate remains over 50% against the spread, they will begin to disrupt real betting markets. Pickspal also expanded into pop culture “betting” earlier this year, with PicksPop. Shame they don't yet follow Tennis and Aussie Rules Football, or I would be on the site way too often!
/dp
This month's trendwatching.com briefing covers a topic I enjoy, the power of groups or collective thinking and how the online medium is massively increasing the ability of people to easily connect, communicate and form groups to exert influence on a glbal scale together as a single force.They are calling this phenomenon "Crowd Clout."
It's not a new concept, as they agree, but the guys at trendwatching.com have taken a fresh look with some interesting examples. Take a look at the April Trend Briefing for more.
If that interests you, I think you should also read The Wisdom of Crowds by James Surowiecki, who discusses with startling insight why the many are smarter than the few and how this shapes business, economy and every aspect of our lives.
/dp
The Hummer-haters gang together at FUH2
