Bertrand Russell (obiviously) lived before social media, but he saw what the information age was doing to people. He didn't put it this way, but with enough information you can see your place on the bell curve. Now most people realize they are average, and not extraordinary at all. Even really smart people are still pretty close to the middle.

Russell puts it better, of course:

http://bactra.org/Russell/on_youthful_cynicism.html

"Moreover many kinds of beauty require that a man should take himself more seriously than is possible for an intelligent modern. A prominent citizen in a small city State, such as Athens or Florence, could without difficulty feel himself important. The earth was the center of the Universe, man was the purpose of creation, his own city showed man at his best, and he himself was among the best of his own city. In such circumstances Æschylus or Dante could take his own joys or sorrows seriously. He could feel that the emotions of the individual matter, and that tragic occurrences deserve to be celebrated in immortal verse. But the modern man, when misfortune assails him, is conscious of himself as a unit in a statistical total; the past and the future stretch before him in a dreary procession of trivial defeats. Man himself appears as a somewhat ridiculous strutting animal, shouting and fussing during a brief interlude between infinite silences."

Any certainly, man's place in the bell curve is not the only problem here, but it is a prominent one, and one that existed before social media, and is almost certainly aggravated by the other problems of social media.