Citizen journalism is a great idea. People can post breaking news as it happens before the media can get to it. One problem though: fake news. This became an issue today with someone posting on CNN's iReport that Steve Jobs had been rushed to the hospital because of a heart attack.
The story was posted to iReports homepage and sent Apple's stock price for a dive. This definitely confirms the power of internet rumors as well as the power of the individual on the internet.
Citizen journalism is a tricky issue. You want people to upload news instantly, but you also want it to be legitimate. By the time you check sources for the breaking news, it will have likely already been covered by other outlets. Strict moderation of sites is a good option. Also, with major news stories such as a heart attack of a major figure, it would be wise to get a credible source before posting it to the homepage.
To see an in-depth summary of this issue, check out this article.
