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Test Today – Study Guide For All

April 21, 2010

Hello Classmates,

I am not sure if we check each others blogs or not, but if so, here is a simple study guide for today’s test:

  • Published in April 1999, the Cluetrain Manifesto states: Markets are conversations
  • Metcalf’s Law: value of a social network is the square of the number of connections – aka: A network becomes more valuable the more people join it (the more the merrier)
  • Moore’s Law: computing power will double every two years, yet drop in price. Every two years, half the price and twice as powerful.
  • Delicious is an example of  a: folksonony; the US Military structure is an example of a Taxonomy
  • Folksonomies: dynamic, non-expert driven. A folksonomy is a system of classification where users tag things collaboratively;  this practice is also known as collaborative tagging, social classification, social indexing, and social tagging.
  • Taxonomies : expertly defined, fixed classification structures.
  • Folksonomy and Taxonomy are examples of: metadata (data about data)

Problems that crowds typically face:

  • Fatigue
  • Little incentive to play together
  • Timing: short term
  • Inner-personal isolation (no shared interest)

3 Things Crowdsourcing can Produce:

  1. Wisdom
  2. Labor
  3. Wisdom+Labor

Pareto’s Principal: 80/20 rule: 80% of the output is delivered by 20% of the people; in marketing, this correlates to: 80% of sales to going to 20% of most popular items

Anderson’s take from the reading: in absence of technology, Pareto Principal is important. Yet with technology today, the 80/20 principle is obsolete.

3 Forces that Create the Long Tail Effect:

  1. Democratization of Production: The best example of this is the personal computer, which has put everything from the printing press to the film and music studios in the hands of anyone.”
  2. Distribution: cutting the costs of consumption by democratizing distribution” [55]. It’s the part of the story that Chapter 1 focused on – how companies such as Amazon and Netflix can exploit the Internet to more effectively distribute goods. The Internet, he argues “makes everyone a distributor”
  3. Supply and Demand: “connecting supply and demand” [55] – those recommendations, links, and so on that help us to find things we like on the Internet.

Rebecca Blood’s law of Blogging: blogging started when YOU discovered it

What is a Blog?

  1. Posts posted in Reverse chronological order
  2. Written an a semi-personal tone – casual or informal
  3. Has a way to continue or extend the conversation:
    1. Comments from readers
    2. Permalinks: links to a specific entry in the archives
    3. Outgoing links to other data
2 Comments leave one →
  1. April 21, 2010 1:35 pm

    Thank you for this. It’s very helpful:))

  2. April 26, 2010 11:44 pm

    Very cool of you to post this!

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