When the internet first came out people talked about how it was going to "democratize" free press, by which they meant lowering the barriers to entry (sort of like when Alan Greenspan said that sub-prime loans would "democratize" credit. They are confusing capitalism with democracy. Ayn Rand would be proud.) Well they were sort of right: it's really cheap to start a blog/website/online-magazine/whatever and tell people what you think about things. Look at me doing it right now! Unfortunately, for the most part, if you are highly opinionated, you will usually be preaching to the choir. So, in the end, democracy is pretty much unchanged.
Twitter is sort of the same way. It started out as something fun and when people started engaging in politics or news on twitter, suddenly it was changing the very nature of politics and news. Sane people knew this was ridiculous, but sane people can never stop the hype machine. Hopefully twitter won't be hurt by overblown expectations.
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