Jimmy Wales expect from the Wikipedia initiative. Many of the early contributors to the site were familiar with the model of the free culture movement, and, like Wales, many of them sympathized with the open-source movement. Wales has said that he was initially so worried about the concept of open editing, where the encyclopedia, that he would awaken during the night and monitor what was being added. Nonetheless, the cadre of early editors helped create a robust, self-regulating community that has proven conducive to the growth of the project. In a talk at SXSW in 2016, he recalled that he wrote the
Jimmy Wales projects. Inspired by the remarkably successful initial public offering of Netscape in 1995, and having accumulated capital through "speculating on interest-rate and foreign-currency fluctuations", Wales decided to leave the realm of financial trading and became an Internet entrepreneur. In 1996, he and two partners founded Bomis, a web portal featuring user-generated webrings and, for a time, erotic photographs. Wales described it as a "guy-oriented search engine" with a market similar to that of "Maxim" magazine; the Bomis venture did not ultimately turn out to be successful. Though Bomis had at the time struggled to make money, it provided Wales with