Is Social Media Effecting Our Economy? Yes!!
March 4, 2021
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9:01Now PlayingIs Social Media Effecting Our Economy? Yes!!
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as posted by the channelWelcome back to Bold Business with Philip Michael. Be sure to like, subscribe, and let us know what you think in the comments.
Joining Philip today is the director of the MIT Initiative on the Digital Economy and author of the book, “The Hype Machine: How Social Media Disrupts Our Elections, Our Economy, And Our Health--And How We Must Adapt” Sinan Aral.
Aral’s book really warned us how the economy would be affected by social media, and you can go far enough to even say his book predicted the recent Gamestop Short Squeeze and r/wallstreetbets situation in January 2021. Aral says here that what happened is a real showing of the power of social media on real world outcomes and how they can be affected in very dramatic ways.
We’re seeing other ways that social media can affect the world very starkly. For instance, this book came out in September 2020 and discussed how social media can incite, coordinate, and accelerate election violence if the results were to be disputed. Only a few months later we had what happened at the Capitol in Washington DC in January, 2021.
What do you think? Let us know in the comments below!
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