Tag Archives: twitter

The Changing Media

The internet significantly changes how information is produced and consumed.

Realtime media

Interesting post on TechCrunch on how the news media will change to to realtime tools like Twitter.  Twitter, now with 5 million users, appears to be able to beat traditional media in reporting breaking news by about 45 minutes based on recent events such as Tiger Woods’ crash. The claim is that the traditional media is more reliable in its reporting, but the article questions that, as realtime media can introduce healthy scepticism and has the advantage of what James Surowiecki terms the wisdom of crowds.

Media Polarization

The other important theme to monitor is media polarization, as this article shows, people tend to watch news that mirrors their political beliefs. Watching news that agrees with your political bias tends to reinforce that bias. For example if you’re a Republican/Democrat and you watch Fox News/CNN, then that tends to reinforce your bias.

The Implications

With more sources for consuming information, such as an estimated 200 million blogs and the traditional media diminishing in importance, the likelihood is that people will increasingly seek out fragmented media sources that reflect, and reinforce their views.

Get Ready For The Firehose

Interesting that Twitter posts will soon be searchable on Google and Bing (details here). I like that the article covering that development was titled drinking from the firehose.

With the web becoming more realtime, it also potentially becomes more distracting. For example, you could read blogs for the most recent information, or you could read Peter Drucker or Benjamin Graham for a timeless perspective on business and investing respectively. I would argue that focusing on the important rather than the recent is far more effective. Yet tools increasingly drive us towards what is new, rather than what is good.