Yet another buzzword for the dustbin.
Tipping Point. Exploitable phenomenon
or total load of crap
. [more inside]
The wisdom of crowds
and the miracle of aggregation
, arguably, are the reasons why markets
work as well as they do. As New Yorker
James Surowiecki explains in his new book
, "consider the show Who Wants to Be a Millionaire
. When a contestant on the show is stumped by a question, he has a couple of choices in asking for help: the audience or someone he's designated as an expert. The experts do a reasonable job: They get the answer right 65% of the time. But the audience is close to perfect: It gets the answer right 91% of the time, even though it's made up of people who have nothing better to do than sit in a TV studio and watch Regis Philbin." The new, new tipping point?