It’s been only two decades since online social media really came into our lives. But who knew that as these platforms would become bigger and turn mainstream, they would revolutionize how communicate with each other! Today, these platforms are not only used by an average person, but have also found use by businesses, governments, politicians, celebrities, athletes, artists etc. For some people, even their livelihood depends on these platforms. One example of such is Twitter.
Twitter not just disrupted the media and journalism industry but also provided credibility to the news that consumers read, as the news came directly from the horse’s mouth. While Twitter allows everyone to voice their thoughts to the world, we observe routinely that tweets often backfire and become the front-page news or the next viral thing or the newest topic of controversy. Incidents where a single tweet, by a CEO or a high-profile personality or the president of a country, has caused irreparable damage, unprecedented turmoil, and eroded or created economic/shareholder value in minutes, are not uncommon anymore. This is the true power of news and its being unleashed 140 characters at a time. ‘Financial markets’ is a perfect example of an industry affected by news, and in the age of Twitter, news really travels at the speed of light making Goliaths fall or Davids rise at the push of a tweet!
The debate on the character limit imposed by Twitter has been ongoing since Twitter’s inception. Sometimes consolidating tweets is tricky without distorting the meaning of words, causing provocation or confusion amongst readers. Another issue arises when users curate the information to receive or select whom to follow, as unknowingly, they also curate the inherent biases, and are at risk of falling into an echo chamber with tunnel vision surrounded by disinformation. The risk towards the younger generation is even higher as they don’t fully understand the dangers of social media yet. Therefore, it makes sense that we be careful about what we write online and read everything with a grain of salt, but that’s easier said than done.
Not all grass is greener on this side, for as many success stories that exist, hundreds of stories about cyberbullying, hate speech, trolling, disinformation, fake-profiles, crazy bots, or twitter mobs etc., also exist. Twitter is a double-edged sword which can be used for good and evil. Institutions and organization have often manipulated information to suit their purposes and promote false propaganda and perception, creating fear and hatred. It wasn’t long ago that the Cambridge Analytica incident revealed how elections were manipulated and evolved the discussions worldwide on issues such as privacy, data-protection etc. In 2018, a report published by Oxford University found 48 politically organized social-media manipulation campaigns in different countries. The sad truth is, this is only the tip of the iceberg as far as the dark side of Social Media is considered.
With money it’s possible for anyone to hire people/bots, work them in coordination, and mount an attack to even topple governments. Turning fiction into fact or visa-versa has become much easier. This power has been decentralized from news and media organizations. While Twitter may be one of the leaders in taking preventative steps against these issues, the jury’s still out on how successful it would be.
As the rules of the game evolve, so would the players and their techniques!