Members have voted on a first round of eliminations to narrow the list of potential business ideas for The Business Experiment, and it's fascinating to see how the project develops now that the democratic marketplace of ideas is in action. Here's a summary of the project. In short: members of the site vote on every major business decision, including product development, marketing, hiring, and so forth. Are crowds smarter than individuals? I guess we'll find out.

(HT: Director Mitch.)

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