Content moderation is irrelevant. The greatest possible danger of social media is the catalyzation of mass, relatively instant global action on incomplete or incorrect information.
It is alleged that social media fuels polarization, exploits human weaknesses and insecurities, and creates echo chambers where everyone gets their own slice of reality, eroding the public sphere and the understanding of common facts. And, worse still, this is all done intentionally in a relentless pursuit of profit.
Moreover, the metaphor breaks down entirely in a post-scarcity, algorithmically mediated world, where there is no obvious relationship between the opinions a person puts forth and where that opinion shows up, often in a mechanically distorted way. The marketplace of ideas assumes a relatively even distribution of megaphones, or a random distributio... See more