What Does The Internet Have To Do With The Finnish School Shooting?

from the absolutely-nothing dept

The story of the Finnish school shooting that left 11 people (including the shooter) dead is certainly a tragedy, and you can understand why people immediately respond to such things by looking for something to blame, or some law or process that needs to be changed -- but at some point you have to admit that it's going to be impossible to totally prevent such actions. Yet, for some reason, people always want to place some sort of "blame" for these sorts of things on the internet. Witness comments from Finnish Prime Minister, Matti Vanhanen, where he talks about various changes to look at, such as with gun laws, but also says:

"The internet and YouTube forums... are not another planet. This is part of our world and we adults have the responsibility to check what is happening, and create borders and safety there."

But, the thing is, those channels are being monitored, and they were watched in this case. In fact, as nearly every press report on the shooting mentions, police visited the shooter a day before the shooting, due to a YouTube video he posted where he was heard pointing a gun at the camera and saying "you will die next." So it's difficult to see how the internet is even remotely worth calling out here. The internet was used to alert authorities, it's just that there wasn't any evidence of a crime or intention to commit a crime at that point. So why bring it up at all?

Filed Under: blame game, finland, internet, school shooting, videos

United Airlines Shares Plummet 75% On Misinformation; Blame Game Begins

from the if-it's-on-the-internet-it-must-be-true dept

Shares of United Airlines' stock tumbled nearly 75% on Monday after an old 2002 report about a United Airlines bankruptcy filing was picked up and circulated as current. How did this happen? Apparently, a staffer at Income Securities Advisors Inc. did a search for "united bankruptcy 2008" on Google, and found an article on the Sun-Sentinel. Though the article was published in 2002, neither the Googlebot nor the Sun-Sentinel website indicated as much, and the news item was published to Income Securities' page on Bloomberg. Once the story hit the wire, shares plummeted from $12 to as low as $3, and 54 million shares traded hands before Nasdaq halted trading to investigate what was going on. After United issued an official "we're really not bankrupt" statement and the confusion started to lift, shares of United returned to a somewhat normal price.

After all the dust has settled, the finger pointing has now begun. Who is to blame, if anyone? Sure, the Sun-Sentinel published the story on its site with an ambiguous date, but having archived articles on your site isn't a problem. However, they should really make the dates on their articles more obvious, since they apparently have pretty good SEO. As for Google, they are indeed guilty of publishing an inaccurate date, but as we've seen before, their usual recourse is to blame the site for the problem, and, that said, their terms of service clearly state that they are not liable for the accuracy of their data. As for Income Securities and Bloomberg, perhaps they will be more careful next time before they publish stories, or perhaps not. The thing is, mistakes happen (like Bloomberg publishing Steve Jobs' obituary last month) and rumors turn out to be false every day. Income Securities will "pay" for their mistake, since now they will need to earn back the trust of their clients.

For stock traders, timely information translates into moneymaking opportunities. A few decades ago, it would take a few days for the market to react to information (thereby creating a nice opportunity for the shrewd trader). Today, the speed with which information travels (and the market reacts) has increased considerably, as is clearly illustrated by this event. Sure, shares of United are still trading at approximately 10% less than its opening price on Monday, but perhaps that's more a reflection of the fact that a chapter 11 filing would not come as a surprise to anyone at this time. So, it appears that, in actuality, it's pointless to assign blame, since there doesn't seem to be a problem -- the system worked just as it should.

Filed Under: bankruptcy, blame game, false report, google news, information, news, stock market
Companies: bloomberg, google, income securities, sun-sentinel, united airlines

Congratulations Facebook! You've Made It... To The Point Where Politicians Want To Blame You For Stuff

from the it's-a-big-milestone dept

There's been a lot of buzz lately that Facebook has surpassed MySpace as the hot social network du jour -- and it looks like Connecticut Attorney General Richard Blumenthal has confirmed it by saying he's looking into the social networking site to determine its liability for letting sexual predators use the site. This comes just months after similar claims from Blumenthal about MySpace. All in all, it still looks a bit like a witch hunt, blaming the service provider for the types of people who use it. Does Blumenthal blame public libraries for letting sex offenders enter the premises? Of course not, because it's not the library's responsibility. Hopefully, Facebook will follow MySpace's path in identifying potential predators and getting rid of them, but it hardly seems like an issue that should involve liability for the company. Does Blumenthal want to sue AOL for letting sexual predators get online in the first place? It's good that people want to stop sexual predators and it's no secret that stopping sexual predators is a very complex problem -- but blaming social networks (or any tool) isn't the answer.

Filed Under: blame game, blumenthal, sex offenders
Companies: facebook