That's the magic of technology really. Everything seems like it will be here to stay until something newer and more exciting supplants it.
In the case of social media, I do wonder if in many parts of society the luster has completely come off.
To reword something I said in a place on a different topic - it's like imagining that the King of England could pamphleteer your neighbors house and pretend that it was your neighbor to say bad things against you and the only way your neighbor would be the wiser would be to embark on his own research project.
People thought it would be more egalitarian, but the reality is those with capital could more easily AstroTurf the public sphere. I don't think it's a coincidence the rise of demagogues and dictatorships in this environment.
For what it's worth, I do remember when you could at least hand wave the veracity of most news as something you didn't need to fact check. It wasn't perfect, but it wasn't a constant concern either.
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