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The Social Media Bubble Is Quietly Deflating

The Social Media Bubble Is Quietly Deflating
Photograph by Mike Kemp/Getty Images

Two years ago, when the craze for social media startups was in full swing, a former Facebook engineer summed up the situation with a memorable lament: “The best minds of my generation are thinking about how to make people click ads,” the engineer, Jeff Hammerbacher, told Bloomberg Businessweek at the time. “That sucks,” he added.

It might be over.