This 17-minute video from Clay Shirky speaking at TED explains why Twitter, Facebook and other social media can change the face of politics in the world. Case in point today: the Iran elections.
While news from Iran streams to the world, Clay Shirky shows how Facebook, Twitter and TXTs help citizens in repressive regimes to report on real news, bypassing censors (however briefly). The end of top-down control of news is changing the nature of politics.