Tech companies are not impartial third parties - all content is highly curated toward the user. If that content was limited to things like hobbies and interests it would be ideal, however that content includes things like news, scientific reports and political propaganda.
Because political propaganda is curated in this way causes people to become highly polarized. One person could be inundated with a specific perspective on their feed, and they may not know that other people don't have the same online experience. Another effect are "echo chambers" of people only interacting with people of the same opinion, leading to users who don't understand the perspective of the other side.
Another issue is that this business model allows for the rapid propagation of fake news which in the worst case scenario could affect someone's health, especially during the current pandemic.
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