Still, though (and unlike YouTube), Bloomberg LP isn’t entirely blameless since it performs a journalistic function by controlling who is and isn’t allowed to post on its terminal. Thus it is ultimately responsible for any bad information that makes it on there.
There were a litany of breakdowns in the new media newsgathering process with the UAL story, but the role of the powerful Bloomberg terminal in amplifying the bad information should at least be considered. It’s not to say the model is flawed, but, again, without the terminal, nothing much happens here. Something to think about in these nervous times.
Also notable was the fine performance of Bloomberg’s news staff, which provided its readers better information, quicker than others, and helped correct the record.