I absolutely believe that much of social media is a cess pit at the behest of the advertising industry.
For some it will be liberation and an incredible tool to leverage but for many it will be just a waste of their life and even, for some, the end of their lives. I left Facebook years ago and recently left Twitter for higher quality sources.
But ... your "One." is distasteful ...
The GFC caused a decade of austerity and quiet unseen cuts in support and public service. If we agree there should, in fact, be some form of safety net, they had had many holes cut in that net in the last 15 years.
Where I am, I was one of the last who had their Uni tuition paid for, I had a relatively fun time growing up, my wife and I bought a property when they had gone through multiple incredible price increases, we have just paid off a mortgage, no matter what happens next short of a world war, we'll be ok. I cannot imagine how we would have done that in today's enviroment ... look beyond this forum and your own experience.
I feel absolutely gutted for the continuous squeeze the generation that followed me have endured. And, considering the outlook, the next recession seems on its way just to compound things at a time when exogenous inflation is all the rage.
It's a mess.
So, please hold both factors in mind. Social media is the cesspit that has amplified just an incredible economics and political mess of the last 15 years.