Hi Everybody,
So this weekend slashdot (slashdot.org) came through with a pointer to an interesting emergent-creativity idea... or rather, idea market. A company called Rite-Solutions has built an internal exchange where employees can offer and invest in ?ideas? (products, technology adoption, corporate direction, etc).
From the New York Times article:
?These proposals become stocks, complete with ticker symbols, discussion lists and e-mail alerts. Employees buy or sell the stocks, and prices change to reflect the sentiments of the company's engineers, computer scientists and project managers ? as well as its marketers, accountants and even the receptionist.?
Apparently, the market has paid off for Rite-Solutions as it has lead to at least one product that ?...accounts for 30 percent of total sales.?
As you may know, similar uses of stock-market-like mechanisms to harness the decision making and predictive power of groups has been discussed in James Surowiecki's book, ?The Wisdom of Crowds.? It's really cool to see the concept being developed and used further.
So when can we start making IPOs on the FRIAM Exchange?
Slashdot blurb:
http://it.slashdot.org/it/06/03/26/1911255.shtml
New York Times article:
http://www.nytimes.com/2006/03/26/business/yourmoney/26mgmt.html?ex=1301029200&en=0d90ed5116e769d0&ei=5090&partner=rssuserland&emc=rss
Cheers,
Charlie
Locked
