I think this KAIST study has it right. I am really not that interested in hearing about what people are eating for lunch right now but it is a really valuable way to exchange (mostly) quality links–the news.
http://www.pcmag.com/article2/0,2817,2363351,00.asp?kc=PCRSS03079TX1K0000585
Like traditional media it serves the function of shifting through the garbage and unreliable sources to find the important information. I don't have time to find it all myself.
KAIST study on twitter
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