Hyper-individualism in all spheres of life, magnified by anti-social technology. They are depressed because current life-form is depressing. Capitalism is pathologically tautological.
I agree that hyper-individualism is a big part of the problem. People need friendship and connection to be happy. If everyone is "doing their own thing" and looking after their own needs first, its a barrier to that. If you're depressed, going and helping someone else who is in need is often a good way to snap out of that depression (assuming its situational more than clinical depression). Even if the other person isn't obviously grateful, simply seeing that you made their life a bit better can put things in perspective, give yourself a purpose etc. Its often really low effort, e:g just actually bother to talk to someone , give them a cup of tea whatever. But people often fail to see this option that can make 2 people happy, because individualism gets in the way. People are almost embarrassed to offer or receive help and friendship, particularly in the US I feel ...
I know you're mud-slinging at capitalism, so I should recalibrate my expectations, but this is even worse than usual. What's "pathologically tautological"? So intrinsically tautological it's like a disease?"
I think it's the opposite of individualism. Individualism accepts some responsibility for risk, but we seem to be in a system where no risk is tolerable, and the government has to fix everything. It gives rise to learned helplessness.
I don't see social media as a technology for individualists either, because it's all about approval and homogenization. Individualism is actually antisocial at it's core, because it's about being yourself regardless of what anybody else thinks. It only seems like we have an individualist system because everything is on blast 24/7, but that's really just the shuffle of collectivists patting each other on the back in the public eye so that others can align their virtues with the current zeitgeist.
We don't have public places anymore where people can just be people away from the gaze of social media. Individualism requires learning who you really are, which means making mistakes, and that's difficult when a video on social media could make you a pariah outside of the confines of your local community.