I've been contacted by Facebook to help build their next-gen platform. I declined as I feel I would have a grim sense of purpose if I did.
While there are positive sides, I do as little social media as possible.
I could spend hours explaining how artificial intelligence algorithms on social media work, and how they make money but in the end, who am I to speak on the subject with authority?
The perverse effects are outlined by the inventors of social media themselves in Netflix's "Social Dilemma".
Trailer on youtube
https://www.youtube.com/watch?v=uaaC57tcci0