Huh. I always interpreted "move fast and break things"
to be referring to the speed of development cycle, as in, SV startups prefer to we deploy new code without really testing everything as thoroughly as an enterprise company might, because time to market is most important and people are forgiving if we break their experience for a short time. I don't think anyone would really fault anyone for that interpretation.
However, if that becomes "do whatever we want to anyone without regards for laws or ethics or customs including directly lying to regulators" as it appears Facebook did then I agree it becomes a problem.
The break-things part is related to the startup meme of disruption too. And as some critic I read once said, many startups disrupt business status quo in the same way that I disrupt the idea of pet-ownership if I steal your dog.
However, if that becomes "do whatever we want to anyone without regards for laws or ethics or customs including directly lying to regulators" as it appears Facebook did then I agree it becomes a problem.