New Media Literature

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Has anyone been following the SocialiteRank scandal? It's really interesting, even if you don't move in those circles (and I'm pretty sure none of us in the class do). Anyway, here is the article that New York did on the whole thing.
I was browsing a summation of the whole thing on HuffingtonPost, and noticed an apt comparison that the Post made with the events - the narrative of the scandal pretty closely resembles Dangerous Liaisons, where a bunch of wealthy peoples' lives are ruined through a series of correspondances. It made me ask the question: when is there going to be some great literature about New Media? We need some sort of a sprawling, Tom Wolfe-ish story about a big blogging scandal or something. Maybe some great writer is working on it right now...

Of course, a reason that these sort of things could not be conducive to literature is that they happen in spurts and bursts... the details emerge publicly, so people can track the narratives themselves. Maybe the novelization would be superfluous? I don't know; I guess tit would have to be a work of original fiction to be really fascinating (and not just a roman a clef)