What exactly has social media not done for us?
I believe that social media has allowed for information and news to be more readily accessible to people everywhere. I however do not think that it has increased the quality of it in all aspects. For the news, social media has definitely increased the quality. Think about all of the places you can now receive up to the minute news! Apps on Iphones and Blackberry's for CNN, The Weather Network or TSN. That is all quality news that people want to hear about. An example of this is how closely I am able to follow Journal articles about what is going on in Egypt the past two weeks.
Where it has not improved the quality is the information, the random "stuff" that fills our internet And more than half of the time the information is incorrect! An example of this would be Wikipedia. Anyone can go onto Wikipedia and add their own information and it is not considered a credible source.
So, to recap. I believe that for the news aspect the quality has been increased but for the information, for the most part, the internet is overrun by anyone who wants to write an article.