Circuit breakers for social media were pondered

Circuit breakers for social media were pondered

Why it matters: This is a fabulous idea ... that ain't never gonna happen. First of all, social media platforms are designed to help things go viral, not prevent things from going viral.

Circuit breakers work in financial markets because the parameters are well-established and, most importantly, objectively numeric. If a financial index plummets 7%, everyone knows trading will halt. No person or entity is required to make a judgement call. Setting up social media circuit breakers would require a universally trusted person or entity to declare something true or false. Sadly, such universally trusted people or entities are increasingly hard to find these days.

Additionally, when a financial circuit breaker is tripped, all trading is halted. Is a social media platform really gonna shut down all activity because a false rumor is being spread in some corner of the world? I doubt it.

Full Story: National Public Radio (9/22)