The rise of social media and the widespread use of smartphones have drastically changed journalism and mass communication. This paper looks at the mixed effects of this change: it has made news production and sharing more accessible, but it has also created serious challenges for traditional journalism standards. Through a review of recent studies and reports, it is argued that while social media has allowed everyday people to act as “journalists” and provide real-time reporting, it has also contributed to the spread of misinformation, divided audiences, empowered unqualified media figures, and damaged trust in news outlets. Additionally, the implications for journalistic ethics, media literacy, and the future of a vibrant public sphere are discussed.