“Social media” is an oxymoron.
And highly overrated.
You prefer to get information from the three nightly news anchors like before?
Sorry - that's an idiotic statement considering you are posting on a social media forum.
Also, consider this: I know news almost instantly by following various intel Twitter sources FAR sooner than watching Fox News or even CNN...usually by 30 minutes or more.
Sometimes it's small stuff like the fact a Chinese warship just collided with a Taiwanese cargo vessel - 'YU TAI NO1' - that was 8 minutes ago. Sometimes it's big stuff - like when Iran took the tankers.
That caused oil to spike - and considering I trade futures (and oil is among them), I was able to go long and make some money. Not overrated at all considering I knew about it LONG before that news made it to CNN.
As with word of mouth it can have more of an impact than traditional media -- many times social media platforms will go "oh, you like X, so let's show you more of X and less of Y. And there is also X1 and X2 related to X"
The net result is polarisation - you see only what is similar to what algorithms show you have liked
Always ride to the sound of the guns.