Is this really true? It seems like social media has a relatively limited impact on companies/countries on any scale longer than a week. Most social media outrage seems to just result in an apology by the company and perhaps some weak action, and everybody forgets about it a few days later.
Remember when the whole internet collectively tried to stop the FCC from repealing net neutrality? Or Article 13? Or the constant complaints about demonetization of content on YouTube? Internet mobs never seem to get anything meaningful done.