Palihapitiya, who runs his Social Capital, a venture capital firm that funds health care and education companies, recently told a group of Stanford Graduate School of Business students to think hard about what the social network is doing to society and asked them to take a "hard break" from it, according to reporting from The Verge .
Palihapitiya was the former vice president for user growth at Facebook, a man whose job it was to get you and your friends hooked. During the address, he admitted that he felt a "tremendous guilt" in helping to amass users on the social networking site. "I think in the back, deep, deep recesses of, we kind of knew something bad could happen".
"The short-term, dopamine-driven feedback loops that we have created are destroying how society works".
Chamath joined Facebook in 2007 and left in 2011. Earlier in November, Facebook founding president Sean Parker said at an event hosted by the media company Axios that he's become "something of a conscientious objector" to social media, admitting he didn't fully understand the consequences online platforms like Facebook and Twitter would have on society.
"When Chamath was at Facebook we were focused on building new social media experiences and growing Facebook around the world", the statement said.
For years, he was a top executive at Facebook.
He made particular mention of the lynchings in Jharkhand - caused by a hoax on WhatsApp, which is now owned by Facebook - to drive home his point that social media is "eroding the core foundations of how people behave" with each other.
"No civil discourse, no cooperation". The tech giant, along with rivals Twitter and Google, testified before Congress last month about the impact of social networks on last year's United States presidential election, and how Russian agents leveraged social media to divide Americans. "This is a global problem", he said.
He later attempted to balance his denunciation of social media by adding that Facebook "overwhelmingly does good in the world". Those rewards, Palihaptitya explained, are "short-term signals" such as "hearts, likes", and "thumbs up". "It was unintentional, but now you gotta decide how much you are willing to give up, how much of your intellectual independence".
"We conflate that with value and we conflate that with truth, and instead what it really is is fake brittle popularity that's short term and leaves you even more vacant and empty", he said. Last month, Sean Parker, Facebook's former president, said the site was created to exploit the way people fundamentally think and behave.
The social media giant has been facing significant criticism from its former senior executives, who keep attacking the network's effects on society. Facebook has claimed that it will not display ads on Messenger Kids or use its data for advertising on Facebook.
Unsurprisingly, people aren't too pleased with Facebook's 'we used to be bad, but not anymore, honest, ' response.