Two big problems with free services on social media platforms: 1) the platform is incentivized to maximum ad impressions and keep you hooked, and 2) they are incentivized to sell user data to third parties. There's a mis-alignment between the user and the platform. No matter what the platform says, the advertisers always seem to take precedence over the users.
We need social media platforms that simply charge for the service and are not incentivized to sell your data or maximize ad impressions. When the platform doesn't have incentive to violate privacy, there's much less of a risk of it happening. Rather than rely on promises or good intention, let's use different business models to align users and platforms.
But free platforms might lose a lot of money if they switch to paid because with a paid platform, the most the platform can make is what they charge the user. With ads and selling user data the amount has no limit. And since each user has different habits and usage, some users make a platform a lot of money because they have high engagement, and some make the platform only a little. Switching to paid means that revenue from high-engagement users will be truncated, and low-engagement users may not pay at all thus losing revenue from them.
And most social media companies take VC funding in order to grow and those VCs expect a high return. That high return is going to come through maximizing ad impressions and selling user data.
Facebook has a market cap of somewhere around half a trillion dollars. Do you think they could get anywhere near that by charging people a few bucks a months? People need to take their privacy and attention back and support platforms that flat out charge the user. RealPeople.io (https://realpeople.io) does that and has no ads, no third-party access to your data unless required by law, no bots, no AI controlling what you see, no big investors demanding a Hugh return. The business model aligns with what users want.