At 1:45pm the office space in Toronto, Ontario shook for about 15 sec.
By 1:48pm anyone searching ‘earthquake’ on twitter could see messages coming from all over southern Ontario, Quebec, New York state, Michigan, even as far as Ohio. The speed of social media updates rapidly built a virtual ‘map’ of the earthquake with users starting to guess the magnitude of 4-5 based on reach. Shortly after, the USGS posted the details and the exact location being on the Ontario/Quebec border with a magnitude of 5.5: http://bit.ly/9IidwX.
Social Media is incredibly powerful. With so many people plugged into it, the level of information available and the speed of which it becomes available overwhelm even the fastest automated systems. This ‘real-time’ information dissemination is what social media is all about. And it’s something everyone can tap into. The hard part is having something interesting enough that people actually want to talk about.
And here is another, more humourous point of view:

which begs the question – what was he doing during the quake? It looks a lot like drawing…
more here: http://xkcd.com/723/
UPDATE: Social Media monetization at its best! Less than 2 hours after the actual even you can now buy an ‘I survived Toronto Earthquake 2010′ tshirt: http://bit.ly/9yWmbh. It’s not always about making money off the Social Media platforms, but figuring out how to make money off the stream of information that the platform delivers.