The Wisdom of Crowds

It has been said that there is more wisdom in a group setting because of all the diversity in knowledge it brings. Hence, the wisdom of crowds. It was on this basis that sites like Wikipedia came to be.

However, it turns out that the wisdom of crowds may not exist in some of this collaborative sites. Remember the 80/20 rule in marketing, where 20% of your clients are responsible for 80% of your revenues? Apparently, it holds here as well. Except here it is more like 1%.