Thursday 26 April 2007

Wikipedia and Money

I was looking at an article on the first round presidential elections in France, with a friend who wondered how the hell does Wikipedia make money?

According to him;
"I must be missing something here, but I just can't see where it gets any revenue from."

Now Wikipedia is part of the Wikimedia Foundation, a not for profit organisation. But what about Jimmy Wales and Larry Sanger? Amusing disputes aside about Sanger's role with Wikipedia and Jimmy's18 edits of his own wikipage, something that apparently goes against his belief, how were they in the position to do this project for free?

According to Daniel Pink of Wired Magazine, Jimmy earnt his money by "speculating on interest rate and foreign-currency fluctuations" he had soon earned enough to "support himself and his wife for the rest of their lives".

Enough to invest $250,000 into Nupedia and $500,000 into Wikipedia. So what lessons should we learn from this? I'll leave this up to you to think about for now, but this has planted a seed for a new project in my head. so check back later for more info.

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