I don't think that we need to get rid of social media.
I mean, the data generated creates so much value and opportunities. and the services offer so much convenience past which we couldn't possible go.
In light of this what do u think should be the approach to fixing this mess ?

First thing that pops up in my head is figuring out a way to not have giant corporates all over our data. But you suddenly realize that nature wants that some services are better, so people use them more and more. those services become your twitter and facebook, unless they're regulated.

And we all know what too much regulation can get us.

@Charon92 but the status quo isn't agreeable either