We know for a fact that US based social media companies collaborate both explicitly and implicitly with both national and international actors to monitor communications and to politically influence American citizens.
If they were actually interested in user data security and preventing political monitoring and information campaigns, they’d follow the lead of the EU and California in enacting legislation that strictly limits data collection practices and set up a monitoring and enforcement regime with significant fines. I think we could go a lot further than existing legislation, in fact, even if we have to roll it out piece wise.
This is just political theater. We need real data policies.