Wiki-What?!

This week our seminar class is reading this book, Wikinomics.

GoldCorp, a gem mining company, was desperate for some new, innovative way to locate deposits of precious minerals quickly. Headed by Rob McEwan, an idea was pitched that was unheard of in the Mining industry. McEwan brainstormed a virtual model of their 55,000 acre mining plot and put in on the web asking for virtual prospectors to make their best guess as to where the next "mother load" could be located. Within weeks they had thousands of submissions powered by mathematical equations, military strategy, and good ole gut thinking. 50% of the suggested plots had never been explored by GoldCorp before and 80% of the plots turned out to be successful, profitable mining sites. McEwan realized than in a culture of mass-information business had to be run on a massive scale and the best global approach was the internet.

In a new aspect of participatory culture, the economy is playing a particularly large part. The internet has transformed consumer culture and changed the way we shop. Sites like Amazon and apps like Wanelo have put products at our fingertips from the comfort of wherever we are. Even the phenomena of Pinterest has spiked a rise in how we use our disposable income. The internet has presented us with the global marketplace.

The global marketplace isn't even place that requires you to actively participate. It's a connection hotspot that is fueled by the people walking (downloading) through the aisles rather than how much product is sold. In sites like Amazon all it takes is a free membership, or for apps like Wanelo, a free download. It asks you to pin things to your "Someday" board or to start making a wishlist that you can distribute around to friends during your birthday month year. The marketplace succeeds through participation and innovation not consumption.