Make smart money decisions with Web 2.0 social networks

Social Networks/Web 2.0/Finance/Andy Chun
Found on: zdnetasia.com

Is your 401K not performing as well as you'd like? Are your stocks taking a dive? If you answered yes to either one of these questions, then you have to read this article by Andy Chun -- in it Andy writes about how emerging financial applications using Web 2.0 services are being used to pick the minds of hundreds of thousands of investors around world to help you make smarter investments.



Zdnet Asia post:

Everyone knows that you can't go wrong when you have the wisdom or "collective intelligence" of millions of people. This "collective intelligence" is what drives Web 2.0.

Successful Web 2.0 applications are usually successful because of its ability to harness collective intelligence; the ability to provide very simple mechanisms to collect and aggregate data that can then be turned into something useful for its users, such as for decision making or to find information.

For example, collective intelligence makes Wikipedia the most popular online encyclopedia. Collective intelligence in the form of spam reporting helps GMail filter spam. Collective intelligence on what people like to read makes digg the most popular site to find blogs. Collective intelligence, in the form of social bookmarking, makes del.icio.us the most popular site to find tagged links.