This podcast episode explores the concept of the "wisdom of the crowd" through experiments involving guessing the weight of a cow named Penelope. The results show that while individuals may struggle to accurately estimate the weight of large objects, the collective knowledge of a large group of people can be surprisingly accurate. However, the episode also highlights the tendency of people to conform to the guesses of others, which can disrupt the accuracy of crowd predictions. Overall, the episode demonstrates the power and limitations of the wisdom of the crowd in various contexts, including estimating the weight of a cow and predicting stock market trends.
