The President-elect just fired a member of his transition team for tweeting fake news and the Internet is in an uproar.
Yes, the King of Social Media just got real about wielding this powerful tool, and wants to send a message that he won’t tolerate funny business on social media.
But isn’t this the pot calling the kettle black?
During the election, Donald Trump essentially re-invented social media, using it as a strong, effective tool to spark controversy and bring attention to the shortfalls of his opponents. He’s continued the trend since winning the election.
Then there’s Russia. What exactly was the fake news that the country got out there that supposedly influenced the election? No one knows for sure, except maybe the CIA, but good luck getting a straight answer out of a clandestine organization.
No matter what side of the aisle you stand on or lean toward, one thing is clear in the post-mortem of Presidential Election 2016: Social media’s use in politics is here to stay.
Some pundits called 2012 the “Twitter Election,” because of how Obama used the 140-character space limit to help win the White House again. If it wasn’t, 2016 definitely was.
Heads of state, both future and present, corporations, marketing firms, journalists – just about everyone! – has their foot in the game to get a (hopefully real) message out.
But because anyone with an Internet connection has access to worldwide platforms like Twitter, Facebook and Instagram, in an era of on-demand information, social media channels can quickly spread misinformation (as we’ve seen recently) as fast as they share legitimate info…
It all really boils down to new technologies completely overrunning the old system of checks and balances. Publishing widespread information once had massive barriers to entry, with three key components…
- Distribution – Owning a TV network or newspaper
- Application – A 30-minute TV show or newspaper column space with ads
- Content – Production and validation of material
Now, anyone with a smartphone can essentially create their own media company!
Facebook came under heavy fire recently for spreading “misinformation and false truths” during the election due to their newsfeed algorithm. This capability aggregates and displays only news that a user is interested in through regional (where they live) and preference (what they like) screening.
Bottom line: You get what you want from sources that may or may not be held to a higher standard of impartiality. And if you keep seeing what you already like, you’re more likely to believe.
As you can imagine, this practice throws fuel on a raging bonfire of Internet noise, but only because it’s what the American populace is demanding.
Still, you must protect yourself, be it from fake news about politics to rogue information that might affect your portfolio…
It’s what I did about five years ago when I created my Vox Intel Filter, which is at the heart of my MarketVOX trading service.
Message boards, blogs, chat rooms. Those were the old places where faulty info mainly spread on the Internet. As a self-taught trader, I sometimes fell victim. Then, it clicked.
With my background in the Marines as a Command and Control Systems Officer, what if I created a system for intelligence-gathering about the markets like I was already using for the military?
Vox is Latin for “voice,” and that’s exactly what my system provides: the unheard voice of the market. The Vox Intel Filter aggregates and screens millions of online messages per day related to over 7,000 U.S. stocks.
It looks at all media content sources, and impartially screens the data for time-tested, accurate indicators that forecast stock price action.
Unless you have a team of statisticians to back up a large bankroll, I recommend you check it out.
Just like a government intelligence analyst, it builds indicator profiles on companies based upon shifts in user reputation, user manipulation, message volume, and message sentiment.
If a major shift occurs that has previously forecasted significant price action in a stock, the system generates an alert for action.
Since this strategy is data-driven, it has no emotional ties to trades, ultimately protecting your portfolio from rogue information, or misinformation, sources.
Until next time, keep frosty, and remember to take everything you read online with a grain of salt!