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I don't think Wikipedia can really be more reliable than the news sources it cites. In general, it is somewhat less reliable than its sources, as there can be intentional or unintentional deviations from what the cited sources said. But yes, Wikipedia can be more complete, and more up to date, than individual news articles. That's the added value that people go to Wikipedia for.
Well, yes, but it's no longer transparent. You know, if Coca Cola edits the Coca Cola article, isn't it better if people can see in the edit history which edits were made by Coca Cola, what they took out, added, reworded and so on?
In practice, you can look at almost any Wikipedia article on a small or midsized company, and with a bit of detective work you can identify one or several accounts that have contributed prominently to that article and are quite clearly operated by principals or employees of that business. There are dozens of examples of that in this thread.
The irony here of course is that Wikipedia's content (at least as long as it's not a hoax) is based on the selfsame news outlets that the public apparently trusts less than Wikipedia. It's a case where the copy is considered more reliable than the original!
Wikipedia has, however, become an effective competitor to news outlets on breaking news. The day Michael Jackson died, for example, millions of people turned to Wikipedia rather than news outlets to get a digest of the latest coverage.
You're technically correct, though what the paragraph describers is exactly what happens. If you register an account that is simply a company name, the account is blocked immediately, and people are asked to register a "non-promotional" name. Such blocking is routine, and hundreds of thousands of such accounts have been banned, obliterating what could have been useful transparency. The German Wikipedia in contrast does allow company accounts, verified by e-mail from the company domain to Wikipedia's OTRS volunteer service to prevent impersonation, and it is permissible for more than one person to operate the company account.
metasonix writes: On Sunday the 2014 Wikimania conference in London closed. Wikimania is the major annual event for Wikipedia editors, insiders and WMF employees to meet face-to-face, give presentations and submit papers. Usually they are full of "Wiki-Love" and good feelings; but this year, as the Wikipediocracy blog summarized, Wikipedia and its "god-king" Jimmy Wales came under considerable fire from the UK media — a very unusual occurrence. And much of it was direct criticism of Wales himself, including a very hostile interview by BBC journalist James O'Brien, who had been repeatedly defamed in his Wikipedia biography by persons unknown.
Andreas Kolbe writes: The Daily Dot's EJ Dickson reports how she accidentally discovered that a hoax factoid she added over five years ago as a stoned sophomore to the Wikipedia article on “Amelia Bedelia, the protagonist of the eponymous children’s book series about a ‘literal-minded housekeeper’ who misunderstands her employer’s orders”, had not just remained on Wikipedia all this time, but come to be cited by a Taiwanese English professor, in “innumerable blog posts and book reports”, as well as a book on Jews and Jesus. It's a cautionary tale about the fundamental unreliability of Wikipedia. And as Wikipedia ages, more and more such stories are coming to light.
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Andreas Kolbe writes: Kids confess on Reddit that in order to wind up a classmate named Azid, they added his name to the Wikipedia article on Chicken Korma. Two years on, and Azid is established online as an alternative name of the dish. A prankster twice changes the name of the inventor of the hair straightener, and both names are now widely credited with the invention online. Another kid writes in Wikipedia that coatis are also called Brazilian aardvarks, and incredibly, the name catches on in newspapers, even a university press book. Governments around the world seek to control Wikipedia content through anonymous contributions. Misinformation and propaganda on Wikipedia spread like a virus into other publications: how pranks, hoaxes and manipulation undermine the reliability of Wikipedia, and indeed the fabric of consensual reality.
Sounds a bit like Pending Changes (installed on the German, Polish and some other Wikipedias, but not on the English one). This requires all IP edits to be approved by a "trusted" editor. Not a perfect system, but better than what is in place now.
Well, the latest edit tweeted by @congressedits for example is this one, inserting the following into David Icke's biography: "He is also a disinformation agent funded by the [[Pleiadians]]." That's just someone wasting their and everyone else's time. That's not to say there haven't been edits on politically contentious topics from gov't IP addresses; there most certainly have, and that's why these Twitter accounts are a good idea. The downside is that long-term, they will drive this sort of editing underground. People who do want to make a politically contentious edit will go to the nearest Starbucks to avoid detection. It's an inherent weakness of Wikipedia, because on less well watched pages some of those edits always slip through. Wikipedia is full of articles edited by people with an undeclared conflict of interest. It's arguably one of the reasons for its popularity.