Part 2: A Community of Fools in Arms

Do online communities work best if people feel their fellow posters are "friends or fools in arms?"
Absolutely. Two million people have voluntarily signed up to call themselves "Fools." It's not a pejorative term any longer; it's a badge our users wear proudly because it connotes honestly, cooperation, self-improvement and progress. Also, any and all can browse our discussion boards, but only registered users may post. It's the first request we make of users when they click the "Post" link for the first time: Sign in or register.

It's a modest request and it probably turns off a small portion of would-be posters who aren't ready for that level of participation yet, but it guarantees that everybody who gives voice to their thoughts on the Fool has declared himself and agreed to our policies.

What is a moderator's role in building and maintaining a strong sense of community?
To reference the "Stone Soup" analogy again, sometimes the moderator is there simply to stir the cauldron, to catalyze interest and to wring cooperative efficiency out of a community. Our board "strollers" know a lot about the Fool and about financial topics, as well. They can provide direct answers to questions that are posed them (TMFTaxes gets a lot of love this time of year) or they can direct users to areas of the static site that might provide them with good answers to their questions.

Best of all, the moderators are themselves attractive personalities with distinct voices and distinct characteristics. They are the crossing guards, shopkeepers, teachers and pro-athletes in our online community and, at least in my mind, they are part of the attraction. That's why we give folks an option to celebrate their "Favorite Fools" on their profile pages.

How active does a moderator need to be in regard to the role of censor?
Minimal oversight is best, so our moderators work in concert with other online Fools. In my neighborhood, I'd rather have a friendly cop on the beat that I can call when I have a problem instead of some spooky regime that patrols the streets with guns and tanks.

Thus we have a "Fool Cop" feature on the boards that gives community members an opportunity to flag problem posts for the attention of our moderators. That said, anything that violates our terms of service gets yanked as soon as we know about it.

As you might imagine, our moderators prefer to be participants, to be stirring the cauldron alongside Fools everywhere, instead of censors.

Is there a foolish technological thought or worry in regard to online communities that keeps you awake at night?
I sleep easy because I know that the Motley Fool's online community is simply one part of a much more robust business model that includes traditional media, corporate partnerships and direct product sales.

For those online communities whose revenues are directly pegged to revenues from ad exposures, I would predict some sleepless nights, past and future. That said, I share the sentiments of industry analysts who believe online ad rates will rebound as advertisers begin to draw benefit from the "direct" nature of Internet ads.

Even so, some truly great online community endeavors have ended up on the rolls of F---edCompany.com, which is itself an online community. Ironic, huh?

Finally, what is a Fribble, why are they important to fools and what's your favorite Fribble ever posted?
As our site will tell you, Webster defines a "Fribble" as a "frivolity, a trifle." Inasmuch as we are called Fools and chartered to amuse among our other callings, we give our community members a forum for amusing, clever or inspirational essays, usually 3-5 paragraphs in length.

My favorite by far is Roger Vine's "The Down Side of Living Below Your Means", penned 11/5/99. You can read it yourself. The author chronicles the pain of recovering from indebtedness, appearing poorer even as he becomes financially better off. Roger's story is the stuff that I celebrate about the Fool's mission, the hard-won battles of self-improvement.

Thanks so much for all your foolish insight Kevin!