For most people getting basic information on a local restaurant or the best priced stereo equipment is made easier through a quick Google search. The automated nature of Google’s indexing bots reward us all with a (supposedly) unbiased glimpse of information available in, what Kevin Kelly refers to as, The One Machine. Today, this article on the Chicago Tribune Web site (involving a Tribune subsidiary) shows just how apt the term “One Machine” really is.
Whether you’re a Google watcher/embracer/user/optimizer/worrier/detester, we’ve all just caught a glimpse of the speed at which a single story (true, false or outdated) scavenged by Google rips through our information complex. In this case it managed to travel, what one would assume, is a well guarded path from Google to Investor Advisory Firm to Bloomberg to Wall Street, all without anyone (or anything) noticing the publish date of the relevant information. This all concluded with the elimination of nearly $1.2 billion from stockholders portfolios in a little under four hours. While the mistake was eventually clarified, it still took the entire day for markets to adjust/process what had just happened.
At this moment, the stock is still trading down 11% on the day. It will be interesting to piece together what effect automated trading, another layer of integrated information system, had on the situation. Were trading algorithms amplifying the effects of erroneous bad news that hyper-reactive traders without the luxury of hesitation used to get an edge on the market? Was someone’s paper loss made into a real loss by a series of automatic trades continuing to sell as the price dropped? Did anyone actually get wiped out by their own pre-determined trade behavior? Anyone score a fortune in a quick four hours shorting the stock? Anyone thinking about how they can plant a story like this to capitalize on in the future?
On the one hand it’s breathtakingly exciting to witness just how fast information is accessed and distributed compared with a mere decade ago. On the other, it’s chilling that information will travel even faster as the gaps that filter verified information from conspicuous information as it’s fed into the machine become fewer and fewer, thus dumping the noise of sorting out what is true and isn’t on even the most mundane of life situations. While that Google search for a local restaurant may churn out the address and phone number in an instant, can you really trade on the unfiltered reviews posted at the link below that? Did that restaurant really get shut down for having unsanitary conditions, or was that one of their competitors gaming the machine, adding noise to your decision? Did someone really find a rubber glove in their bean burrito six states away, or did that story’s popularity award it top billing in a Google search making it “true”? Even if you are skeptical of everything you read, you may or may not believe the actual story, it has an effect on your perception of the restaurant. Think of it as “reverse branding.” It makes you hesitate.
Often hesitation is enough to push the outcome of an event one way or another. Taken as a whole, Google’s ubiquity and it’s business of essentially collecting, indexing and selling information would force most people to think twice about joining to make it the omnipresent force it is today. Steadily add noise to the internal debate (to “use” or “not to use”) such as free email, free calendars, free applications or cloud computing and the world will hesitate. It will hesitate just long enough to make it all worthwhile.
Get accustomed to that noise and accompanying hesitation, it’s becoming part of every decision made, and it’s only going to get louder. It’s the ultimate irony of The Information Age.