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PreziMayMay

85%
by

Jostein Hole

on 26 August 2010

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Transcript of PreziMayMay

Group Members Chan Mun Kit
Jostein Hole
May Cheong Abdullah
Nurul Sazlin Saruddin
Introduction Netflix is a service offering online flat rate DVD and Blue-Ray Disc rental by mail and video streaming in the United States.
Established in 1997 and headquartered in California.
Netflix Prize was organised on 2006 to improve existing Cinematch rating system The Netflix Prize Introduction Netflix is a service offering online flat rate DVD and Blue-Ray Disc rental by mail and video streaming in the United States.
Established in 1997 and headquartered in California.
Netflix Prize was organised on 2006 to improve existing Cinematch rating system A problem in society today MALARIA About 3.3 billion people - half of the world's population - are at risk of malaria

Annual estimates vary between 300 to 500 million clinical episodes of malaria and 1.5 to 2.7 million deaths worldwide

Malaria is especially a serious problem in Africa It traps families and communities in a downward spiral of poverty

One in every five (20%) childhood deaths is due to the effects of malaria

Every 30 seconds a child dies from malaria

Malaria causes a huge economic loss to the world There is little motivation to develop medicines for Why we chose malaria Malaria is the most importan tropical disease
Among the top 10 killer diseases in the world
Malarian and poverty are intimately connected
Market system fails to address the malaria problem
Huge economic losses The effects of infectious diseases over the next decades Several drugs for are available, but too expensive for the third world Patents are essential to innovation Question 3 Describe another problem in business or society that could utilize an approach similar to that for winning the Netflix Prize (i.e. a contest that anyone can try to solve) Do you use Netflix? If so, how do you like it? If not, why not? Question 1 What are the pros and cons of having the winner of the Netflix Prize share the improved Cinematch method? Question 2 From Netflix's POV: Pros - Cons - • serious diseases affecting small groups of patients
• large markets where people are too poor to pay the monopoly price Spreads through infected mosquitoes

However, it is preventable and curable. A solution Conclusion - John Luke Gallup & Jeffrey D. Sachs (2000) Solution: Grand Prize Even from the purely economic point of view, the investment in the fight against infectious diseases is evidently good business: the world economy—and, subsequently, individual family economies—stands to benefit from such investments. We already know a lot of what we must do; we just need to do it. The future of the human race depends on our actions today. Academic support - stimulate pharmaceutical research on malaria - A modern prize system could aim higher with the help from the government.
- Economists could work out what each particular problem costs the nation

- The prize could be the value of the savings made during one full year Performance

Crowdsourcing: Everyone with a good idea can participate Essential advantages of prizes Kremer (2001) Horrobin (1986) Malaria and poverty are intimately connected Market system fails to address the Malaria problem Not used because it is unavailable in Malaysia Pros - Reward shared among many
No long term monetary benefit From the winner's POV: Cons - Winner keeps ownership
Highlight their ability A prize system for a new malaria drug might break the deadlock Thank you A prize system for a new malaria drug might break the deadlock Extensive data
Leverage on participants past experiences
Business intelligence
Collaboration Others learn their solution
Takes a longer time
Full transcript