The Tokenization of News
As I was working with The Wall Street Journal last year on their redesign I started to question why and how people interact with the news. When we read the news, what do we do with it? Is it just there to confirm our biases? And how do we expand a reader experience to empower them to make sense of the news in a more balanced way? If balance could be had of course. So it occurred to me that news is a form of social token. Exchanged between us to confirm our view of the world. Rare it is to find or become a reader who actively seeks out differing opinions.
I asked ChatGPT to write me an article on the social tokenization of news. And this is what it wrote:
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In the modern digital era, news has become a crucial social token that connects people across the world. The way we consume and share news has changed dramatically with the rise of social media platforms, and news has become a powerful tool for social connection, community building, and even identity formation.
News as a social token is a concept that describes how news can be used as a symbol or signal of one’s social identity or group affiliation. This is particularly evident in the way people consume and share news on social media. When we share news stories on our social media profiles, we are not just sharing information, but also expressing our values, beliefs, and opinions. This can signal to others who we are, what we care about, and what groups we belong to.
For example, political news is a powerful social token that can signal someone’s political affiliation or ideology. Sharing news stories from liberal or conservative news outlets can signal one’s political leanings, and can be used to connect with others who share those views. This can lead to the formation of online communities based around shared political beliefs, which can be further reinforced through the sharing and discussion of news stories.
Similarly, news about cultural or social issues can also serve as a social token, signaling one’s values and beliefs about those issues. For example, sharing news stories about climate change, gender equality, or racial justice can signal one’s support for those causes and help to connect with others who share those values.
News as a social token can also be used to establish one’s authority or expertise on a particular topic. Sharing news stories from reputable sources can signal to others that we are knowledgeable and informed about a particular subject, and can be used to establish our credibility in discussions or debates.
However, the use of news as a social token can also have negative consequences. The rise of fake news and misinformation has made it easier for people to manipulate the way news is used as a social token. False or misleading news stories can be used to spread disinformation and sow division, and can be used to reinforce existing biases and beliefs.
In conclusion, news has become a powerful social token that connects people across the world. The way we consume and share news on social media can signal our values, beliefs, and group affiliations, and can be used to establish authority and expertise on particular topics. However, the use of news as a social token can also have negative consequences, and it is important to be aware of the potential for misinformation and manipulation. As news continues to evolve in the digital era, it will be important to continue to examine its role as a social token and how it can be used to build connections and communities online.
That’s pretty darn good.