It's all about Social Media
I think it’s fair to say, as a rule, people don’t understand privacy policies – they are overly wordy and full of legal bullshit. The actual implications of what you are agreeing to are masked & it’s impossible to expect anyone to take them serious day-to-day.
They are important though, our data is out there: likes, dislikes, interests, location, friends, etc all can be accessed with ease. It’s not always valuable, but if it comes curated it can be extremely powerful. Anyone can find my number online, but it’s only when they have my age & interests that they know what to sell me.
There’s many a potential shit-storm on the horizon and if we, the people who create these things, don’t start taking responsibility for them someone who doesn’t have a real grasp of the technology / capabilities / potential will do it for us. That would be much worse.
There are so many awesome things you can do with data, let’s keep it that way.