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July 30, 2005

The business Experiment - Open Source

blogmad @ 1:50 pm

What if a few thousand like minded individuals got together online with the purpose of setting up a business, applying the open source development model more commonly used for software development. Well thats roughly whats happening at http://www.thebusinessexperiment.com/.
The premise is that there are alot of people who have great ideas but never get to realise them due to their circumstances. People who register on the website get an opportunity to put their ideas forward. Each idea is put to a poll and the winning idea then becomes the business experiment. All key decisions are voted upon by site members based upon the philosophy of the ‘wisdom of the crowds’. The person who suggests the winning idea gets 10% of the company and each member gets a share based on participation levels.
Sounds like a fascinating experiment. I have seen lots of business ideas so far and they are practically all brilliant ones. They are still taking in members, I would strongly recommend getting involved if you are interested in business startups and open source philosophy.

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