Ryan Block has formally responded to what is now being referred to as “AppleGate” in Silicon Valley. Yesterday Engadget posted that the iPhone was going to be delayed several months, relying on what turned out to be a bogus email for the story. $4B in market cap was wiped off of Apple’s stock price in 6 minutes as the “news” hit the market. Engadget quickly corrected the story and the stock recovered within 20 minutes, but many investors had lost a staggering amount of money in the amount of time it takes to brush your teeth.

the PR profession is dead. things are now moving too quickly for lazy 9-5ers to be useful.

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