It's not the blogosphere
Friday, May 18, 2007 by Dave Winer.
Engadget on the Apple leak that made the stock move.
Somehow a fraudulent email was distributed to Apple employees. One of them forwarded the email to Engadget. They made a reasonable attempt to verify the email, failing to get a comment from Apple PR, they believed it was authentic, so they ran it.
What's new is the quick turnaround, otherwise Engadget is a professional publication that happens to use the web and tools of the blogging world, but this is not the blogosphere. Nothing wrong with that, and I don't think Engadget did anything wrong. Are they a powerful publication now? Yes. The news, while it was believed to be true, made Apple's stock go down; when retracted, the stock went back up.