As networks harness the wisdom of crowds and computing power grows, the ability of experts to add value in their predictions is steadily declining. I call this the expert squeeze, and
Michael J. Mauboussin • Think Twice: Harnessing the Power of Counterintuition
Andy Bromberg: The wisdom of crowds is giving way to the “wisdom of communities.” In a world of ever-greater complexity, no one person can possibly make sense of all the signals and all the noise — from a single, static vantage point. A networked group is required to adapt to this new world... People are no longer being polled in isolation but rath... See more
future.a16z.com • 21 Experts on the Future of Expertise - Future
In other words, if most decisions to adopt new technologies or social norms are driven by cascades, there is no reason to think that the decisions we make are, on average, good ones. Collective decisions are most likely to be good ones when they’re made by people with diverse opinions reaching independent conclusions, relying primarily on their pri
... See moreJames Surowiecki • The Wisdom of Crowds
What good is it to have all of the world’s knowledge at your fingertips if you don’t have the bandwidth to prioritize it, or the expertise to know if it is competent? At one time we had a scarcity of information, but today our attention is in the midst of a massive DDOS (distributed denial of service) attack.