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. Nupedia and the origins of Wikipedia Though Bomis had at the time struggled to make money, it provided Wales with the funding to pursue his greater passion, an online encyclopedia. While moderating an online discussion group devoted to the philosophy of Objectivism in the early 1990s, Wales had encountered Larry Sanger, a skeptic of the philosophy. The two had engaged in detailed debate on the subject on Wales' list and then on Sanger's, eventually meeting offline to continue the debate and becoming friends. Years later, after deciding to pursue his encyclopedia project and seeking a credentialed academic to lead it, Wales hired Sanger—who at that time was a doctoral student in philosophy at Ohio State University—to be its editor-in-chief, and in March 2000, Nupedia ("the free encyclopedia"), a peer-reviewed, open-content encyclopedia, was launched. The intent behind Nupedia was to have expert-written entries on a variety of topics and to sell advertising alongside the entries to make a profit. The project was characterized by an extensive peer-review process designed to make its articles of quality comparable to that of professional encyclopedias. In an October 2009 speech, Wales recollected attempting to write a Nupedia article on Nobel Prize-winning economist Robert C. Merton, but being too intimidated to submit his first draft to the prestigious finance professors who were to peer review it, even though he had published a paper on Option Pricing Theory and was comfortable with the subject matter. Wales characterized this as the moment he realized that the Nupedia model was not going to work. In January 2001, Sanger was introduced to the concept of a wiki by extreme programming enthusiast Ben Kovitz after explaining to Kovitz the slow pace of growth Nupedia endured as a result of its onerous submission process. Kovitz suggested that adopting the wiki model would allow editors to contribute simultaneously and incrementally throughout the project, thus breaking Nupedia's bottleneck. Sanger was excited about the idea, and after he proposed it to Wales, they created the first Nupedia wiki on January 10, 2001. The wiki was initially intended as a collaborative project for the public to write articles that would then be reviewed for publication by Nupedia's expert volunteers. The majority