I don't think so, if you make yourself an internet slave and internet addict I guess it makes you dumb.
It depends how you spend your time on it. I think it's made me smarter (though a lot of folks would ? that). I learn new things daily!
Still it depends on how you apply it. Many people uses internet to expand their knowledge and to know more in their fields but sometimes there are some people uses it dumbly without purpose and just wasting their time.
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