I think what social media companies are doing is both immoral and criminal. In a just world this behavior would count as a crime against humanity and the people responsible would be tried in a court of law accordingly. In a just world we would have strong consumer protection laws which would protect users against the behavior your parent described. And consumer protection agencies would shut these companies down before they were able to cause this much harm, The worst offenders like Zuckerberg would be criminally charged and go to prison.