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In September, Sinan Aral published The Hype Machine: How Social Media Disrupts Our Elections, Our Economy, and Our Health — and How We Must Adapt. Five months later, the book might be described as prophetic: This month alone at least two of Aral’s three predictions have come to fruition. First there was the Capitol riot, fueled by months of lies about election fraud on social media, and then there was this week’s Wall Street meltdown, courtesy of Reddit message-board users who launched a fading retail company’s stock price higher than that of Apple. I spoke to Aral, director of MIT’s Initiative on the Digital Economy, about the gray area that is large coordinated stock buys and whether the Securities and Exchange Commission can do anything about it.
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