Mob Rule is a Good Thing?

I just got back from Bulldog Reporter's Media Relations Summit 2007 in Washington, D.C. It's the first conference I've been to in many years as an attendee – as opposed to be an exhibitor and/or conference worker. It's nice to let others do all the work.

There were several interesting "keynotes," including Juan Williams of NPR/Fox (now there's a fun couple), and David Pogue, who gave the funniest speech I've ever seen. The keynote that made me think the most, however, was by James Surowiecki, author of The Wisdom of Crowds: Why the Many are Smarter than the Few and How Collective Wisdom Shapes Business, Economies, Societies, and Nations.

The title alone is enough to spark a conversation. When I think of crowds, the word "wisdom" does not apply. I think of lynch mobs, and the people who trampled others to death while attempting to get good seats at a Who concert.

Yet, Surowiecki shows that there is collective intelligence in every day life, from pari-mutual betting results, to Google, to Who Wants to be a Millionaire? In the case of the latter, he shows conclusively that those who choose the audience lifeline are making a great choice, inasmuch as the audience is right 90+% of the time.

I'm still pondering how to use this principle in my life or business, but it is interesting to say the least.