TAG | Bogus 'Jobs heart attack' story hits Apple and citizen journalism stocks |
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| Core Dump - Apple and anything else | |
| by Stephen Withers | |
| Monday, 06 October 2008 | |
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Page 3 of 3 iReport's tagline "Unedited. Unfiltered. News." is a clear - though not unqualified - claim that what's being presented is news. And the frequent appearance of the CNN logo is presumably used to imply credibility.Featured Whitepaper
5 Best Practices for Smartphone Support
So why don't they moderate posts? My guess is that it would cost too much. The whole idea of user-generated content is to bring in eyeballs that will (hopefully) click through to the main site, or to yield advertising revenue that doesn't have to be shared with the content creators. Outrageous content attracts attention, and attention translates to dollars. And one school of thought says that if you do moderate, you're increasing rather than reducing your potential liability. The reasoning is that if you don't moderate you can leave responsibility with the poster, but as soon as you start moderating, you implicitly accept some responsibility for whatever gets through the process. Anyway, all this makes me glad I don't think I'm smart enough to be a share trader. Mind you, if you were quick enough to apply the old adage of "buy on rumour, sell on fact" Friday would have been a nice payday. The rumour emerges, and Apple shares fall to $US95.41. You pick some up, then unload them three hours later at ten bucks profit. Multiply that by a few thousand shares and you've made as much in a morning as most people do in a year. But what's the other old adage? Hindsight has 20/20 vision. |
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