Quite honestly, I just don't trust them to do the right thing anymore, even with regulations. They have made it clear, through a variety of their actions, that the have been biased and intend to increase their efforts to be biased.
"WASHINGTON (Reuters) - A review by a former Republican U.S. senator concludes that political conservatives believe Facebook Inc needs to do “significant work” to satisfy their concerns that the social media website is biased, describing policies and examples that they found problematic without laying outhe t evidence of systemic partisanship..."
https://www.reuters.com/article/us-facebook-bias-idUSKCN1VA1I7
You're spot on correct because the lies that Facebook facilitates are so widespread that the majority of users believe whatever Zuckerberg decides to spoon feed them.
Sadly, I don't think that everyone will realize how big this problem is and will likely get before it is too late to prevent serious damage.
Thank you for posting this Katherine. This is an issue that can not be given enough attention. It should be hammered on by everyone until the government does to Facebook watch they did to Ma Bell back in the 80's. The social media monopolies are a much more dangerous threats all of us then big telcom was back then.