Thursday, July 07, 2005

Another sort of Equifax

Equifax and other credit bureaus are basically systems that make sure everybody plays by the same rules. Otherwise, society wouldn't work. ("If you don't pay, you'll pay!")

In a way, LinkedIn is like another sort of Equifax, except that it doesn't track who owes whom financially, but socially. For example, the more endorsements you have, the more "credit" and credibility you gain. Also, the more connections you have, the higher your social status.

LinkedIn basically screens out the people who, for some reason, cannot get other people to trust them.

Like Equifax, LinkedIn ensures that people behave according to socially acceptable norms and standards. The main difference is that Equifax works by threatening to punish delinquent people, whereas LinkedIn works by rewarding people who have achieved professionally, are trustworthy and are helpful to others.