Information used to be hard to reproduce and disseminate across geography. This is no longer the case, and now exploits in human psychology that weren't really feasible to exploit in the past are available.

The "problem" isn't facebook or any social media company, it is with humans as a whole, and it isn't really a problem, just an evolutionary bottleneck. Selection pressures have changed and certain traits that used to be a net positive are now net negatives. People will adjust generationally as those resistant to mass hysteria from information overload succeed and get rich while everybody else (most people on HN included) fail and get poorer. Until the adjustment to the new ecosystem is complete, expect instability and uncertainty.