The wisdom of crowds works when the crowd is choosing the price of an ox, when there's a single numeric average. But if it's a design or something that matters, the decision is made by committee, and that's crap. You want people and groups who are able to think thoughts before they share.

Summary

In this quote, the speaker emphasizes the limitations of the "wisdom of crowds" concept. While crowdsourcing can be effective in settings where a single numeric value or average is required, such as determining the price of an ox, it becomes unreliable when it comes to making subjective decisions or those involving design. The speaker argues that decision-making by committee, where individuals are able to think critically and independently before contributing their thoughts, is preferable in these situations, highlighting the importance of the quality of ideas over the quantity.

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