Do you remember a year ago when there was a huge upset over the previous blockchain, leading up to the launch of Hive?
One of the things that stood out to all of us was how poorly reported the situation was. This was a world-wide headline at the time. It affected the entire industry. Big-name personalities weighed in. It was the big test for the resilience of DPoS.
In fact, we're still feeling the repercussions of the fallout.
Anyway, it was interesting to see how the crypto-media articles reported on the situation. As I recall, the quality of the stories was fairly low. In some ways, it's understandable, when it relates to nitty-gritty nerd topics. But these were crypto-centric news organizations, not boomer newspapers. They shouldn't have had such a hard time parsing the facts as they did.
Turns out, there's a name for this effect: Gell-Mann Amnesia Effect. In a nutshell, when you read the news and it's on the topic of a subject you're deeply familiar with, you notice all of the errors in reporting.
According to wikiquote:
Briefly stated, the Gell-Mann Amnesia effect works as follows. You open the newspaper to an article on some subject you know well. In Murray’s case, physics. In mine, show business. You read the article and see the journalist has absolutely no understanding of either the facts or the issues. Often, the article is so wrong it actually presents the story backward-reversing cause and effect. I call these the “wet streets cause rain” stories. Paper’s full of them. In any case, you read with exasperation or amusement the multiple errors in a story-and then turn the page to national or international affairs, and read with renewed interest as if the rest of the newspaper was somehow more accurate about far-off Palestine than it was about the story you just read. You turn the page, and forget what you know.
Basically, it's the notion that all news is misreported, but you only notice when you are an expert on the topic. Maybe it's not that bad in reality. But how would you know?
They touch on this in tonight's Tim Cast IRL:
Skip to 21:34