I think it's pretty amazing that we can communicate with people from all over the world. While I haven't met anyone on imgflip IRL, I do consider some of you to be real friends. For that reason I can appreciate the benefits that social media has to offer. Still.
While, I don't think the problem lies with social media/technology itself but with how people use it. Instead of using it as a platform to interact with other people on a social level, people seem to be using it as a means of obtaining self validation in the form of likes, followers, upvotes etc.
It should never be treated as a substitute for real life conversation, as it too often is. I've often seen a group of friends or even couples too engrossed in their phones to even look up for a minute to have a real life conversation with the people sitting in front of them.
While I'm not a fan of internet slang in general, I think it's acceptable to use on social media, but when it starts to creep it's way into how people speak IRL, That's a problem. To put it lightly it makes people sound unintelligent.