Friction is exactly what I believe the end answer is for social media, fake news, viral video, etc.
Prior to the Internet, all communication included substantially larger amounts of friction. Broadcasting your opinion required acquiring TV, Radio, or Newspaper time/space. Sure there were low cost alternatives like standing in the public square and shouting your beliefs, but that is a far cry from tweeting out something hateful from the comfort of your couch while you eat pizza and watch unlimited streaming video content.
The friction was both a drag on productivity AND a safety mechanism to prevent mass spread of inaccurate or low quality content. I feel like the Internet removed all of that friction which is great in many cases, but particularly bad for accuracy of information. It's like the gossip that used to spread through towns by word of mouth, can now become truth within days just by going viral. And once enough people hear the same thing, isn't it now true?
Perception is reality. Just look to the divisions in the world. Each side when talking amongst themselves has one truth while the opposing side has a completely different one. Doesn't matter which truth is accurate when both sides are unified in their belief that it is their side's story that is correct.
Friction is necessary, to at least slow the contagion of inaccurate information. Right now the incentives are misaligned. Viral content that makes the consumer feel good provides the most economic return for companies like Google and Facebook. While the system is setup to reward this, how could you expect a profit seeking business to do anything else but optimize for it?