“COVID-19 is the first global crisis in the social media age.”

Morgan Housel:

This [COVID-19] is the first global crisis in the social media age. What we’ve learned from social media in the last decade is that 1) information spreads fast, 2) false information spreads fastest because it’s more sensational, and 3) tribal identities are heightened when debates take place online vs. in person, so healthy debate quickly descends to a my-team-versus-yours battle. FDR said, “The only thing we have to fear is fear itself,” in an era when the only information source was a morning newspaper, edited and fact-checked by professionals, written by journalists who weren’t motivated by likes, retweets, or paid per click.

Corona Panic [CF]

March 3, 2020
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