Book: Wikinomics

Wikinomics: How Mass Collaboration Changes Everything
Don Tapscott and Anthony Williams

ISBN: 1591841380

So I promised I will write reviews. Here is a book I just finished. The very attractive name caught my eye in Barnes and Noble

The book makes very good points about how the economy is taking a different shape these days. Development of communication tools allow for much greater efficiency. How? Well instead of hiring, companies and organizations can uncover the work that needs to be done to the world and the person with most expertise and cheapest price can do the job. And no matter how many people corporations have hired, the world pool is bigger.

A good example of this transparency and opening is the mining company. Goldcorp was struggling with finding new gold resources, so it put online all the private information and told people, “We give you all our information, you tell us where to dig!” The prizes they paid to people totaled $575,000, but 80% of the suggested dig places yield substantial quantities of gold. 100 million company became a 9 billion monster that eat its biggest competitors. Another example of transparency was how IBM opened up their patents for use to public, receiving in return over 1billion in revenue yearly.

Its also worth noting that people have become what authors call ‘prosumers’. We are not only consumers, we are not satisfied anymore by slightly customized products (pink iPod or 2gb ram in the new Dell). We now like to completely build our products. We like to create video, blogs, photos, we like to make software and show it off. Its the reason why open source software will continue to grow and why collaborative sites are going to flourish. And figuring out our consumer preferences might be quite important for a business’ survival…

What else…oh yeah, I thought it was funny how Geek Squad (have you seen those black and white beetle cars zooming around the city?) communicates and exchanges most efficiently ideas at Battlefield 2. “Shoot that mother cracker, behind the tank. BTW, where do I find firmware for WRT-54GL…”

So yeah, its worth knowing those things. Limp Bizkit sang it really well, “You better stay on top or life will kick you in the ass”