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Unformatted text preview: erally large gro up o f peo ple in the f o rm o f an o pen call.”J. Ho we, “The Rise o f Cro wdso urcing,” Wired, June 2006. Can the cro wd really do better than experts inside a f irm? At least o ne co mpany has literally struck go ld using cro wdso urcing. As to ld by Do n Tapsco tt and Antho ny Williams in their bo o k Wikino mics, mining f irm Go ldco rp was struggling to gain a return f ro m its 55,000-acre Canadian pro perty ho ldings. Executives were co nvinced there was go ld “in them thar hills,” but despite years o f ef f o rts, the f irm struggled to strike any new pay dirt. CEO Ro b McEwen, a f o rmer mutual f und manager witho ut geo lo gy experience who unexpectedly ended up running Go ldco rp af ter a takeo ver battle then made what seemed like a Hail Mary pass—he o f f ered up all the f irm’s data, o n the co mpany’s Web site. Alo ng with the data, McEwen po nied up $ 575,000 f ro m the f irm as prize mo ney f o r the Go ldco rp Challenge to anyo ne who came up with the best metho ds and estimates f o r reaping go lden riches. Releasing data was seen as s...
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This document was uploaded on 01/31/2014.

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