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Mar 15 / admin

The Wisdom of Crowds

There’s an interesting book by James Surowiecki called “The Wisdom of Crowds.”  In it, he describes how consumers are often a better indicator than the “experts” on who and what will succeed, pulling from examples as far-reaching as Beauty Contests to using the Stock Market to predict the culprit behind the 2003 Columbia Disaster.

“No one in this world, so far as I know, has ever lost money by underestimating the intelligence of the great masses of the plain people.”

-H. L. Mencken

Why mention this?  Well, it may be helpful in considering how to make sure your entertainment pursuits are good enough to be funded by the crowd.

iFundie gives you an unique opportunity to pull small contributions of money from a larger scale of people.  That collective approval could be one of your first indicators of whether or not what you’re creating is good enough to be sustaining down the road.  If your project is successfully funded in a given time slot, consider this a right-of-passage that the crafts you have created are approved directly from fans.

Check out “The Wisdom of Crowds” website, it’s an interesting read.

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