“The best way to predict your future is to create it” – Abraham Lincoln
Honest Abe knew a lot about life, but he didn’t know anything about cars. They wouldn’t be invented until 30 years after he had a rough night in Ford’s Theater. Luckily for you, there is a little company bringing some “honest” into an industry that has spent far too long in the shadows.
How are we going to do this might you ask? One word: crowdsourcing — one of the most ubiquitous terms in the recent business lexicon.
What is crowdsourcing?
Crowdsourcing Week defines it is as: “the practice of engaging a ‘crowd’ or group for a common goal — often innovation, problem solving, or efficiency. It is powered by new technologies, social media and web 2.0.”
In the past several years, we have seen how the practice of crowdsourcing has been able to raise huge sums of money, transform entire industries and diversify supply chains. At its heart, crowdsourcing is upending the complicated processes previously completed by only a handful of people selected to represent huge bases of customers. It’s taking what used to be done in smoke filled rooms and giving ideas and concepts room to breathe.
We’re taking a look at the automotive industry, one of the pillars of the modern industrial economy, and explore how all attempts to affect it through “New Economy” efforts have failed — until now.