![]() At the precise moment they make headway and capture the world’s attention, they experience what Tufekci calls “tactical freeze”-an inability to adjust tactics, negotiate demands, and push for tangible policy changes. Her thesis, backed by stacks of research, suggests that protest movements enabled by technology rise rapidly but often sputter at their zenith. Zeynep Tufekci’s book Twitter and Tear Gas provides a comprehensive deep dive into how social media has changed social movements. Unfortunately, like many researchers and media people, Aral commits the mistake of "bothsidesism" when clearly one side has gone mad while the other still has some grip on reality.Īnother interesting phenomenon is how protest movements in recent years appear to gain viral momentum only to disperse with no impact on policy or lasting change: (Kindle loc 4496)īasically, societies where a few influencers lead and a bunch of followers follow without thinking for themselves will lead to a polarized society where truth loses value and arguments are meaningless because nobody changes their minds. Where Kanye West has 30 million followers and follows 300 people. ![]() Sound familiar? This is the world we live in, where Barack Obama and Donald Trump have 110 million and 67 million Twitter followers, respectively. And that is that it does not have, in modern vernacular, “influencers.” As Golub and Jackson wrote, “Disproportionate popularity is the sole obstacle to wisdom….Having agents who are prominent, causes learning to fail, since their influence on the limiting beliefs is excessive.” Societies without wisdom lack “balance,” meaning some groups have disproportionately more influence than others and may not pay sufficient attention to the rest of the world. They called societies that did so “wise.” They found that a society’s network has one simple and complete characterization of wisdom-one requirement for being able to arrive at the truth. He notes that a society that can converge onto the truth is wise, and clearly we do not live in such a society: presidential election, six swing states (New Hampshire, Minnesota, Michigan, Florida, Wisconsin, and Pennsylvania) were decided by margins of less than 2 percent, and 77,744 votes in three swing states (Wisconsin, Michigan, and Pennsylvania) effectively decided the election. They concluded that Russian fake news was “surprisingly concentrated in swing states, even considering the amount of political conversation occurring in the state.” Although more than 135 million votes were cast in the 2016 U.S. “the proportion of misinformation was twice that of the content from experts and the candidates themselves.” When they calculated whether a state had more or less Russian fake news, they found that 12 of 16 swing states were above the average. He does not that the amount of lift a campaign of that size, if targeted properly at the right voters in the right places, would decide the election: At no point does the author Aral come to a conclusion as to whether the Russians succeeded in throwing the 2016 election to Trump. What the book does not provided are easy answers. This is more subtle than you might think, since for instance, an ad that's shown to you that confirms your biases and reminds you to buy something you would have bought anyway doesn't contribute to lift. I learned the technical term for measuring the effectiveness of a social ad, "lift", which basically measures the influence and ad has for changing your actions. Fake articles were clicked on and read more often than real articles, and trading volume increased with the number of clicks and times an article was read. The reactions were more pronounced for smaller firms and for firms with a greater percentage of retail (as opposed to institutional) investors. ![]() In other words, investors reacted to fake news even more strongly than to real news. ![]() Abnormal trading volume rose by 37 percent over the three days following the publication of real news articles and 50 percent more following the publication of fake news articles relative to real news articles.
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