We need to deal with so much information from all sorts of media these days, that reputation is becoming a larger and larger factor in our society.
In the past the path to publication was much harder, so something that was published acquired a reputation simply by virtue of the publication process. These days however, it's cheap and easy to publish. Fake news sites are ones that have the trappings of a real news site, but initially attract people by appealing to biases. They trade off the gain in reputation simply by appearing like a reputable site and having a plausable domain name.
We often rely on "reputation chains" to validate information. We believe a study because scientists have reviewed the study as part of the peer review process. The study has gained from the reputation of the journal, and to the more knowledgable - from the reputation of the reviewing scientists. Unfortunately sometimes people with good reputations can spread misinformation, so we still need to be critical as to the veracity of the information we receive. Our cognative biases can cause us to reject true information, so we need to be caution when rejecting information from a reputable source.
We also have more reputation transmission mechanisms these days. We have accreditations, charter groups, and social networking sites for signalling reputation. We have awards and prizes for boosting reputation. Reputation is an increasingly bankable attribute these days.