The business world will never ever underestimate the power of blogs again. The recent "mistake" of Engadget about delayed launch of iPhone knocked $4 billion off Apple's market capitalization. When the gadget blog corrected its post, Apple's stock recovered some of its losses.

I know the much revered Alan Greenspan, Chairman of the Board of Governors of the Federal Reserve of the United States from 1987 to 2006, can send market crashing with just a simple comment. I never realized a 96-word post from a powerful blog can easily stir even the financial markets.

From Engadget:

This one doesn't bode well for Mac fans and the iPhone-hopeful: we have it on authority that as of today, the iPhone launch is being pushed back from June to... October (!), and Leopard is again seeing a delay, this time being pushed all the way back to January. Of 2008. The latest WWDC Leopard beta will still be handed out, but it looks like Apple-quality takes time, and we're sure Jobs would remind everyone that it's not always about "writing a check", but just how much time are these two products really going to take?

The lesson is simple: follow Spider-Man's dictum i.e. with great power comes great responsibility!

Via TechCrunch