Not quite so. Information cannot travel faster than the speed of light. This is one of the mysterious aspects of this phenomenon. [Note how I accidentally made a pun on "Aspect" there?].
To elaborate, there is no way for a person at either end of such an experiment (or the more subtle ones that disprove all local hidden variable explanations of QM) to send information to the other faster than light.
It is well-thought of as a process of discovery. [Yes you are spot on there!]. Suppose you had two different coins and put them randomly on two spaceships. In this case it is obvious that looking at one of the coins does not communicate anything.
The oddness increases considerably when you look at spin or polarisation. This is where you can show that there is not the possibility of hidden information that is limited to the speed of light explaining the results. It is odder than that: the so-called "spooky action at a distance" (I think that term may be due to Einstein, who thought this sort of thing was impossible.)
So, recently on my degree we've been looking at quantum mechanics; and the idea that information can travel faster than the speed of light using entanglement. My lecturer used the analogy of a particle decay and sending 2 emissions that are exactly the same in opposite directions towards two detectors. An observer of detector 1 can use this information to gain access to information about the particle at detector 2, even though there is not enough time for light to travel between the 2 detectors, and thus no information can be transferred from one detector to another. So how does the observer of detector 1 gain accesss to information about the particle at detector 2?
My lecturer said this unanswerable, and this is "basically" what quantum theory is
My question is this though; as my lecture is fairly incompetant at the best of times:
By gaining information about particle 1 at detector 1, I understand that we can gain information from detector 2, which could, for arguments sake, be millions or billions of light years away; instantaneously. However, I do not believe that this transfer of information is instantaneous, but instead, it was already known, at the time the two emissions left the source in the middle. Why is this idea wrong?
If I'm massively off with my understanding of quantum physics then feel free to slaughter me, or even better, explain/correct me.
p.s. Might be interesting to know what everyone's thoughts on quantum physics are, not just the "correct" one