Like it or not, this has a major impact on your life!
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Not often is there one concept that impacts you and everyone every day of their lives. Our lives and history show this is utterly and totally formed around the concept of the Network or Community or Crowd. For the sake of brevity, we will refer to these collective concepts as the ‘Crowd’.
Everything can somehow be related to the Crowd and the decisions they make.
Crowd principles and impacts are cross cutting and affect you through a multitude of instances such as your politics, your information biases, where you live, how you invest, what communities you belong to, etc. Poor decision making by crowds can also lead to disastrous decision making.
Some examples:
· the politics of the Crowd voted Hitler into power with worldwide implications.
· the investment practices of the Crowd support groundbreaking innovations.
· mobs (crowds) or crazed investors in a stock market bubble;
· the Crowd desire to live with like-minded people develops strong communities.
· algorithms harness the Crowd habits to feed you data according to your information bubble in which you exist — good and bad.
· Crowds determine how successful an artist will become and who will ‘fail’.
Here are some well-known crowd instances related to Investing:
· Crowdfunding: the practice of funding a project or venture by raising money from many people
· Crowdsourcing involves a large group of dispersed participants contributing or producing goods or services — including ideas, voting, micro-tasks, and finances — for payment or as volunteers. Contemporary crowdsourcing often involves digital platforms to attract and divide work between participants to achieve a cumulative result
· DAO: With no central governing body, every member within a DAO typically shares a common goal and attempt to act in the best interest of the entity.
· Mutual Fund: a financial vehicle that pools assets from shareholders to invest in securities like stocks, bonds, money market instruments, and other assets
· Unit Trust: A form of collective investment constituted under a trust deed. A unit trust pools investors’ money into a single fund, which is managed by a fund manager
Our challenge is to work out ways for Crowds to make good decisions.
In his groundbreaking work — The Wisdom of Crowds, James Surowiecki, was able to clearly identify core Crowd decision making principles:
Once you get your head around the concept of the ‘Crowd’ you will be able to better start managing the impact they have on you and how you are able to wisely manage that impact to your benefit.
We use a lot of these principles through Intelligent Distributed Due Diligence in our i3D Protocol which has a vision to successfully identify the start-up successes of tomorrow. These include a scoring & ranking process to remove bias and aggregate decision making, identification of red flags, collective investment, individual rewards.
Find out more about the i3D Protocol: https://invluencer.com
Join our Crowd: https://t.me/i3dangelinvestors
Start scoring and Earning with the i3D Rapid:
