It was bound to happen. The media is doing such a bad job of investigating, analyzing, and delivering the news, that even Investor’s Business Daily is touting the oft-maligned blogosphere for their journalistic prowess.
In the same way the market sifts and analyzes information stocks far better than any individual investor or institution ever could, the blogosphere weeds out the chaff and develops and hones analysis and facts at, well, Internet speed.
For a medium that has become synonymous with incredulity, this is a big step. It was not long ago (I think, yesterday), that if you told someone you got your facts from the Internet you would be subjected to a heavy sigh and severe rolling of the eyes. Now the same source is being hailed as CBS’ fact checker.
We have to be careful here. Obviously I would like to promote the concept that accurate and insightful information is available in the blog community. But this community is no more accurate today than it was yesterday, and discretion is still the watchword. Now that the value and power of Internet punditry is being recognized, it is important that this recognition is served up to the deserving and not dished out indiscriminately. There are still alot of antennae-heads out there. This is, however, a step in the right direction. The mainstream media has got to watch it’s back. There’s a new sheriff in town.