With that kind of bounty you aim to attract someone who has already solved the problem and has the solution sitting in his drawer. Eli Lilly pioneered the crowd

With that kind of bounty you aim to attract someone who has already solved the problem and has the solution sitting in his drawer. Eli Lilly pioneered the crowdsourcing approach in 2001 with their spinout Innocentive, and they raised eyebrows even then because they were perceived as cheap.