And society does not have perfect systems and even known solutions in place to handle this stuff.
There are deep sociological and psychological issues that have been uncovered over the last couple years, that have always existed beneath the surface in society. At a time of hyperconnection, if it wasn't Facebook surfacing them, it would have been YouTube or Twitter or Reddit or whoever else. I am not saying grave errors haven't been made and the future does look scary.
But now that the issues (from fakenews, to terror recruiting, to child abuse, to identity theft etc etc etc) have surfaced in a manner that cannot just be wished away, who else out there has the skills to do something about this stuff?
There is seriously no one out there, besides the Chinese govt with experience handling/understanding data flows at this scale. The expertise being built up in Facebook is going to be fundamental in addressing and eventually finding solutions to these problems. I have no doubt about that. Nobody else is seeing the data we are seeing. It's going to be a hard couple years ahead, with lot of turmoil, but we have a much better idea about what the issues are and therefore solutions are more likely to be found not less.
Read Walt Mossberg's own columns after Obama got elected in 2008 about the promise of social media. That hasn't changed. My mother has cancer and her biggest support system day to day is a group on Facebook. So I know personally what value a well functioning social network can create. How it can contribute to well being. The good stuff happening is not going away.