Let's not forgot social media platforms did organize an Egyptian revolt. When there have been natural disasters or terrorist attacks, Facebook has sent notifications to people's friends telling them they are ok. Also, tons of small brands now can exist due to Facebook and Instagram, and these companies can now do so from any location in the country or world.

Facebook is a very metrics driven company, and privacy has been a remote concern for the company. I think they have dug their own grave if they even want to venture into finance or healthcare like Apple is doing. I would not trust Facebook with my health records or bank account. But, Instagram is great for finding vacation ideas and spotting new products or trends. Twitter IMO now often is a much better source of information than the NYTimes. Also, let's not forgot the NYTimes has its own axe to grind here.