In an age where social media has more immediate influence than industry recognition, why do the Oscars still matter? Because they're a bellwether of what Hollywood values. The annual Academy Awards — the American film industry's highest honor for aesthetic and technical achievement in movies — are a solid predictor of what the film world wants to recognize and emulate. And recently, the Oscars have also become a social battleground, as questions of diversity have surrounded the nomination process and the winners. The Verge follows what's important about the Oscars on a social and cultural level, looking at how present conversations around the awards are helping shape the future of entertainment.