Sunday, February 15, 2009

Best Buy's Internal Prediction Market



At 2:15 you get the money quote from Jeff Severts, Best Buy's EVP:
Big companies are like communist countries - we all know how well communist countries worked. At some point they fell apart, not because the leaders were dumb, but because nobody would tell the leaders at the top, who had to make decisions, what decisions to make.

5 comments:

jeremy h. said...

So, do prediction markets solve the calculation problem? (See also another perspective on prediction markets.)

Matt E. Ryan said...

I'm not sure that communist countries fell apart because no one told the leaders what to do...

Ryan Hahn said...

So now communism works because we have prediction markets? Someone should tell the leaders of Cuba and North Korea...

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