menu

Crowd-Funding Mogul: How The Wisdom Of The People Fuels Innovation [PSFK 2014]

Crowd-Funding Mogul: How The Wisdom Of The People Fuels Innovation [PSFK 2014]
Design

In this video, Rodrigo Nino talks about why crowd-sourcing provides the answer to successful and economical growth.

Hilary Weaver
  • 26 may 2014

Rodrigo Niño, CEO of Prodigy Network, emphasized to attendees of the PSFK 2014 Conference the importance of crowdsourcing when pursuing innovative and effective change in the world.

Niño says that when companies and countries look outside of the opinions of the “experts” and to the wisdom of the public, they are able to find their best solutions.

He used NASA as the prime example of these crowd-sourcing techniques. NASA recently hired Boeing to create an algorithm to reduce sun exposure to astronauts when circling the earth. When a Harvard professor launched  crowd-sourcing competition, Tournament Lab, to garner algorithm submissions, a 21-year-old  from China submitted an algorithm 55% more efficient than Boeing’s.

Niño also referenced the “flight to quality” during the recession. US institutional investors collectively decided to put their money into treasuries and gold to protect the public from a failing market. These markets dropped significantly less than the national average during the recession.

tumblr_mmv76vFPWD1qz5ttno1_1280

At the same time, Argentina took a note from the US investors. Projects, such as the Bogota Art District, were funded and designed by a crowd of investors. Local upcoming artists live and work in these communities that would have otherwise been impossible for a starting artist.

With its new hotel project in downtown New York, the Prodigy Network is working on the first urban platform created by crowd design. This project allows architects from all over the world to remotely collaborate on the structure of a project in the U.S.

“In general we believe that crowd funding is the way to level off the playing field for everybody and democratize the way we see things,” Niño says. “I think that we all need to stop trying to be experts. We need to be curators of the true wisdom of the crowd.” Watch his full talk below.

Prodigy Network // @ProdigyNino

PSFK CONFERENCE 2014

Click here to get updates on future PSFK conferences and salons.

Design
Trending

DIY Kit Lets You Build Your Own Wooden Bike, Boat Or Caravan

Design & Architecture
Culture Yesterday

Messaging Add-On Helps You Correct Your Friends’ Bad Grammar

An iMessage sticker pack will help you copyedit text messages

Automotive Yesterday

Mercedes-Benz Introduces A New Electric Mobility Brand

The separate entity aims to simplify the identification of Mercedes EV products to customers

Trending

Get PSFK's Related Report: Future of Automotive

See All
Mobile Yesterday

Tinder’s New Feature Makes Swiping A Group Effort

The dating app wants to democratize its gestural interaction by buying in to the social polling trend pervasive among millennials

Syndicated Yesterday

Autonomous Garbage Drone Prevents Trash From Reaching Deep Ocean

The solar-powered WasteShark collects refuse closer to the source: the harbor

Automotive Yesterday

Aston Martin Reveals Its Own Luxury Powerboat

The sleek AM37 echoes styling elements from the British brand's sports cars

Advertising Yesterday

An Escort Website Fights Violence Against Sex Workers

The advocacy campaign from McCann aims uncover the human toll of the exploitative industry

PSFK LABS REPORT

Future Of Automotive
Scenarios Driving The Digital Transformation Of An Industry
NEW

PSFK Op-Ed september 27, 2016

Modern Workplace Culture: No More Fat Cats Or Kissing Ass

Samar Birwadker, CEO & Co-Founder of Good & Co, on designing shared organizational values to optimize employee happiness and success

PSFK Labs september 29, 2016

The 10 Steps To Discover, Hire, Develop Your Next Leader

PSFK's Future of Work report outlines key steps in the employee development path to empower next-gen leaders

Culture Yesterday

LIFE Magazine Relaunches In Pure VR

The general interest periodical, which ceased publication in 2000, has turned into a portal for virtual reality content

Mobile Yesterday

Reorder This Detox Drink With A Simple Text Message

Dirty Lemon is streamlining its communication by letting customers place orders, ask product questions and request help exclusively through chat

Op-Ed Yesterday

The Future Of The American Workforce Requires Unbundling College Education

President of JetBlue Technology Ventures: developing corporate education programs for non-traditional students

Retail Yesterday

Gilt’s Pop-Up House Is The Kind Of Store You’ll Want To Live In

The New York City townhouse plays host to the latest in retail inspiration, curation, and lifestyle activation (and some libations, too)

PSFK LABS REPORT

Future Of Work
Cultivating The Next Generation Of Leaders
NEW

Mobile Yesterday

Registering To Vote Is Now Just A Text Away

A new bot aims to mobilize underrepresented groups this election season through SMS and Facebook Messenger

Africa Yesterday

Virtual Reality Game Gives Lessons About Emergency Birth Care

LIFE is a serious tool that takes advantage of new technology to help save lives

Luxury Yesterday

Shoe Repair Has Moved Onto Your Phone

Cobbler Concierge is an on-demand service to get your footwear fixed online

No search results found.