The Business Experiment

This Business Experiment got initially attracted me but I immediately realized why it would bring only an average or below average results. This experiment basically wants to try running a startup by votes from the people. The idea is to harness "wisdom of the crowds". I think, the smartness factor would be averaged out in this system instead of "more than sum of its parts". It's blind one-shot voting after all; not a structured logical argument going in the crowed which could otherwise have made difference. Other way to look at it is that such business is already in existence which is virtually run by voting and belief system of crowd: government! It may be fairly robust and may be sufficiently stable over centuries of existence but its the most inefficient business that we know of.