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Some argue that wiki systems are inherently unreliable; since no fact-checking authority exists, it is a matter of luck when explicit plagiarism or inaccurate statements are discovered. Furthermore, this problem is independent of the number of users, since the same percentage will always be involved in this type of activity. In addition, although experts on a subject may edit a page, they ultimately have no more control over the content of that page than anyone else; in fact, because edits can be anonymous, an expert with bad grammar will likely be less well trusted than an ignoramus with excellent writing ability. In short, fact-checking is perhaps the most important challenge wiki systems face.

Bomis.com, a company founded by Wales, is the largest contributor to Wikipedia, providing building space, bandwidth and technical support. Wales also announced in May, 2004 that he envisions himself as eventually being paid to "run" Wikimedia Foundation. No plans have been announced to hold open elections that would allow Wikipedia contributors or the Wikimedia Foundation to select their own board of directors, to free the Foundation from Wale's control or wean the non-profit from dependence on Bomis.com as the primary financial contributor. Elections in May, 2004, were set to appoint two Foundation members to the five member board, leaving control of the Foundation under the leadership of Wales and his Bomis.com partners.