Not looking for an argument and I'm certainly not pro facebook, but how is that any different than what say Google is doing? I really don't know much about the subject, but I kind of assume the worst with all of these tech companies to be honest. I'm not getting a dot or echo for that reason. There's no way they aren't using that information they are getting.
Its probably because I'm usually 3 drinks in at a bar whenever I talk about this but when I do, my friends look at me like i'm saying the moon is made out of cheese and/or they don't want to fathom a life without their IG or Snap so they check out of the conversation.
Data collection is a humongous asset for large companies and people are giving away almost every bit of info about themselves on a daily basis. 10 years ago it used to be that the most sinister form of this was your CVS/Grocery Store Rewards Card or giving your email address to retailers when you buy a pair of jeans at Old Navy. They offer you minimal (even artificial) savings on candy or milk or whatever and in return you'd give them a data point with your: name, phone number, email, what you bought, what time you bought it, what month you bought it, how frequently you buy that product. Again, nothing too too evil.
Nowadays however, algorithms have taken that "Rewards Member" strategy to a whole new level because they can acquire more data and much faster.Everything from Google, Facebook, IG, YouTube, Twitter, and even P-Hub is constantly checking your searches and using that info to determine which ads to show you and, more deviously, determining which content to show you. Social Media apps track your location, time of use, frequency of use, duration of use, acquire hundreds of pictures of your face, the faces of your friends, family, and co-workers. It's literally possible for a program to look at someone's selfie-history and use it to make an accurate 3D rendering of that person's bedroom despite never seeing a full picture of it.
Your cell phone's GPS is on all the time, even without you knowing. I have time and location stamps on pictures taken from my iPhone 4 that i never even knew was enabled. Your phone's microphone and/or recorder can be turned on without you realizing it (there was just that FaceTime issue a few weeks ago).
It's all f***ing creepy. And all of this is totally ignoring the mental health consequences of daily use of social media apps and having screen brightness right in front of your face.
Sam Harris semi-recently did a Podcast about Digital Capitalism and human autonomy in the digital age with Douglas Rushkoff and it was fascinating. Highly recommended