Wanna reward people? Do something *truly* meaningful.
Reading through Idea Management Group debate on Linked-in titled “Use contribution rewarding system or not”. It’s a debate about how to incentivize people (employees foremost, but also external partners, customers, etc) to innovate with the company, so that… so that what? that they get an iPod. Who-hoo.. listen to more music and BE HAPPY. of course, if you have an iPod, you will be happy, no? for a minute you will be – you will project the beautiful moments you will have with your iPod. From all the movies you’ve seen – you must be able to feel like a...
read moreCan anonymity add to the quality of debate?
When engaging people on an information market the goal is to get them to speak up and retrieve the information sitting with them. This is what enables effective “information aggregation” – when all the players are contributing with their private information: information that only they have access to. This is not the norm. In a face-to-face meeting, you would watch out what your peers and superiors would say to what you say, so being the social animals we are, we watch out for inappropriateness. While being a good thing in general, this lowers the quality if a debate, as...
read moreMeasuring and rewarding contributors
One of the interesting aspects of We-Decide is that it creates incentives for members of the community to participate in drafting proposals. The information market (see an example of information market platform here) will measure member contribution by giving them credits, which members can “invest” in proposals of interest. When members earn additional credits (for having invested in a proposal that gains attracts others), these are kept account of in a non-cash account, and turned into real cash by the amount the community has set aside for a given period, for all virtual credits earned...
read moreWe-Decide vs Peer-to-Peer Finance
I worked at MYC4 for 2.5 years. (www.myc4.com) I have been thinking why and how it relates to what I am doing now, because I have learned important lessons. The two projects actually share a lot: MYC4 is a collective decision platform: investors collectively decide who gets funded. It is, in a sense, collective intelligence platform where investors provide their knowledge on who should get funded. Yet, I must also say, that this principle that MYC4 and many other P2P financing platforms (such as Kiva, Finansowo, etc) adhere to is somewhat compromised by risk management systems that manage...
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