We want the facts -- quickly and succinctly. That's not necessarily a bad thing, but what do we do with the information? Few things are black and white, this or that, absolute. I believe social media encourages quick responses. We aren't taking the time to explore multiple perspectives, corroborate sources and process information. Thinking quickly is not a substitute for thinking deeply.
Social media is shortening attention spans, as people are getting used to having instant updates and feedback and information from others. As an example, people used to communicate through letters, and it would require patience to hear back from someone. Now, it can be done in almost the blink of an eye. Because of that, our brains are starting to be accustomed to having everything right away, and we are losing the ability to concentrate on things that may take longer, or even have the patience to do so.
Yes, social media is ruining our attention spans. As we use social media every day, it presents us with so much information in such a short amount of time that we are never required to focus on just one thing. Instead we move our eyes about, focusing on many things for only a few seconds each.
While I do not feel Social Media these days is ruining our attention spans, I do feel it can have a negative effect on people and certain things. People are beginning to rely too much on their Social Media profiles, which can very well alienate people around them. But, Social Media is not affecting attention spans, per say.