The conventional wisdom about social networks is that people filter out dissonant news and opinions, and instead flood themselves with news and views that merely confirm their prejudices. But new evidence suggests that in seeking information online, just the opposite happens. Many people are already using new media tools as trust filters in a truly sophisticated way.

Google CEO Eric Schmidt says, “Brands are how you sort out the cesspool” of false information on the Internet - and Internet users put considerable trust in search engines as the online equivalent of traditional gatekeepers. But most are not even aware that sponsors pay for their links to appear first on Google’s search engine results page, or that the company does no verification whatsoever of the information links it offers.

How can we tell if the news we see and hear is actually true? There’s little doubt we need some sort of credibility/trust filter for news and information we receive. But in a world where “The brand that increasingly matters is the one called ‘my friend,’” are corporate brands really the answer?

In today’s society, access to information is a key element of status and power, and communication is instant, ubiquitous and mobile. The “public display of connections” on social networking sites signals to others in your network your reliability and trustworthiness - and that of the news and information you share.