Web 2.0 Blog – Discovering Innovation Opportunities using Social Media

Is social media a KID FAD? A quick way to remember Surowiecki’s requirements for successful collaboration

Posted on: February 2, 2009

In James Surowiecki’s Wisdom of the Crowds he argues that for a collaboration to be successful it must have 6 elements:

Knowledge must exist in the audience
Independence of contributors
Diversity of opinion
Focused on compatible goal
Aggregation of information
Decentralized Process/Local Knowledge

I thought KIDFAD is a good way to remember since there are still people who think that is what social media is.
Not sure if he mentioned the focus on the compatible goal explicitly but I thought it was implicit in his argument. What I mean by compatible is that the individual goal must line up with the purpose of the aggregation. So in prediction markets, the win of the individual is compatible with the market obtaining an accurate prediction, because the determinant of the win is the same as the goal of the market (accurate prediction).

In the case of google mining the behavior of searches, it is reasonable to presume that individual searches want to find what they are looking for quickly and the purpose of the search engine is to provide it.

Anyway it helps me remember, hope it helps you.

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2 Responses to "Is social media a KID FAD? A quick way to remember Surowiecki’s requirements for successful collaboration"

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[…] Innovation comes from diverse people considering things in different ways (remember KIDFAD from Wisdom of the Crowds),  so making connections between spending and benefits broadly relevant and visible will provide […]

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