Disruption: the cost of misinformation

The cost of misinformation

Misinformation costs money and lives

Last year, it was called a public relations firm win plotted a scheme. She offered to pay social media influencers to push misinformation that Pfizer’s Covid 19 vaccine was fatal. Additionally, the company wanted influencers to claim that government officials and the media were covering up information. It turns out that the company did not exist.

Last month, an 18-year-old walked into a Buffalo supermarket and killed 10 people with an A-15 assault rifle. Almost immediately, the news spread through right-wing social media channels that The shooter was a federal agent. The story, promoted by the far right, was that the shootings were part of a government plot to gain public support for gun control.

Both cases are examples of creating and spreading misinformation.

At some point in your childhood, you may have told an awesome person to cheat on a friend. After that, I went reveal the truth, everyone had a good laugh. This is childish and innocent enough. However, the misinformation is not innocent. It costs money, destroys businesses, impedes knowledge, and can even be deadly.

The economic impact of misinformation

a 2019 تقرير Report Commissioned by internet security firm CHEQ, it found that misinformation leads to a loss of $78 billion annually for businesses, governments and consumers.

The study was written by Roberto Cavazos, Professor of Economics at the University of Baltimore. It found that misinformation leads to $39 billion in losses in the stock market. Consumers lose another $17 billion annually as a result of misinformation regarding financial issues.

In addition to the direct losses from misinformation, companies spend about $9.5 billion annually defending their reputation from misinformation. In addition, companies and health organizations spend about $9 billion annually to combat misinformation.

The deception ends with the house party

Houseparty is one example of the devastating impact misinformation has on a business.

The social media app, which allowed people to video chat and play games together, took off with the Covid lockdown. However, in March 2020Posts started appearing claiming that the network was hacked. In addition, misinformation has accused that other accounts, such as Netflix and Spotify, have been hacked through Houseparty. Users have been urged to delete the app and close their account.

Although the smear is completely wrong, it is stuck. As a result, owner of Houseparty Epic Games Close the app In October 2021.

Why does misinformation thrive?

Misinformation is not new. However, it has become a cottage industry with the advent of technology and has turned the information age into the age of misinformation.

Many promoters, such as Alex Cross, Who claimed that the Sandy Hook school shooting was fakeThey generated millions of misinformation.

Content makers and agencies can be used to craft stories that affect everything from companies to elections. Some companies create fake advertising campaigns that can be attached to legitimate information on the Internet.

Conversely, legitimate ads can be placed with misleading information articles. This can be done without the advertiser realizing it. The reason this happens is Automated Advertising. This labor-saving concept uses an algorithm to place ads. As a result, a reliable and reputable company can appear that supports an article containing misinformation. Thus, the article gains credibility through association with the advertiser.

How to protect against misinformation

There are fact-checking programs that can help you test the accuracy of the information you get. They include:

However, you may not have time to check everything you see or read. But there are precautions you can take to protect yourself from misinformation.

  • Is the outlet or person publishing the information trusted? One way you can judge this is by checking employee profiles. For example, if you go to District Media (the publisher of SavingsAdvice.com) – you will see a button called Our Team. There you can access personal files.
  • Look for sources in the text. Are the sources listed? Are there links to information?
  • Is the original source trustworthy? During the pandemic, a lot of information about Covid came from medical schools, health boards, and reputable organizations such as the Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO). A lot of misinformation about Covid has come from individuals who do not have medical degrees or scientific backgrounds.

Death by misinformation

It can be easy to dismiss misinformation as nearly harmless. However, as noted above, it can be fatal.

Last December, a woman was identified in a NPR Report Stephanie also passed away at the age of 75. The official cause of her death was COVID-19. However, her daughter told NPR that she feels there is another reason.

Stephanie has become immersed in a number of conspiracy theories. As a result, you have become distrustful of information coming from medical schools and governments about COVID-19. This prompted her not only to avoid the vaccine but to refuse some treatment after contracting the disease.

“I don’t think she was supposed to die,” Stephanie’s daughter told NPR. “I blame the misinformation.”

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