Value in Accountability and Regulation for Social Media Companies

Leaders of social media companies should take accountability for the negative impacts of their algorithms, such as amplifying outrage and misinformation. Implementing measures like flagging viral content for fact-checking and creating algorithms to foster common ground among users could mitigate these issues. The lack of action is attributed to the reluctance to incur costs that conflict with their profit-oriented business model. Ultimately, these companies prioritize profits over societal well-being, necessitating strong regulatory oversight to ensure a balance between business interests and societal welfare.