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Re:$10,000 algorithm competition: predict commute times on a... by shasta on Tuesday November 23, 2010 @08:12PM (#1936089)
Except Netflix had a minimum standard of performance. This reads to me that the best entry submitted before time expires gets the prize, regardless.
Re:$10,000 algorithm competition: predict commute times on a... by angusgr on Tuesday November 23, 2010 @08:19PM (#1936107)
Well Netflix also offered $50k each year for a "Progress Prize", but you're right.

I guess it is a question of "you get what you pay for", and I expect they'll get something quite usable but not great. Certainly good value for them, compared to contracting someone to do it.