Crowdsourcing & Crowdfunding

This lecture explores the concepts of crowdsourcing and crowdfunding, discussing how ideas are generated and developed through open calls to large groups of people. It covers examples like the Netflix Prize and the Facebook Translation Project, showcasing the power of collective intelligence. The instructor delves into the conditions under which problems can be crowdsourced and presents platforms like Waze that combine passive and active crowdsourcing. Moreover, the lecture examines different types of crowd organizations and the motivations behind participating in crowdsourcing initiatives. It concludes with insights on how to leverage crowdsourcing for innovation and product development.