What can they do?
Proposed solutions to their various problems:
- Make the timeline less addictive, to prevent people overusing it. Won't work, as soon as facebook loses its relevance another, more addictive site will take its place (reddit, instagram). In any case, they've already tried this.
- Introduce moderation, to prevent abuse of the platform. They're already frantically hiring moderators--they cannot find enough people to moderate the platform. And competitors are emerging in any case (whatsapp and other messaging apps)
- Stop collecting data on people. Not going to happen, since they rely on this for revenue. Asking them to do this is like asking someone to violate their survival instinct. This has to happen from some force external to Facebook. And in any case, people's data is valuable, so saying "stop collecting data" is like saying "don't pick up $100 that you find on the ground."
I guess I'm trying to say that this problem is so much bigger than just Facebook. It's a problem with mankind that will prove to be more and more intractable as time goes on, regardless of who is a player and who is pointing fingers.