Earlier quoted context omitted.
If you want to get down to a nit picky level like that then, sure. And to be fair, maybe it should be explicitly stated. However, Facebook sells access to the data it collects. It may not be access to the raw data that a phrase like 'selling the data' makes it sound. However, it is making money from the knowledge it has about people (can't even say its users anymore). Either way, the ad buyer (end user) gets access t…
No, advertisers do not "get access" to that data. They get the ability to target ads against people who match some characteristics. Facebook's business is literally built on advertisers inability to access that data. If they had access, advertisers would advertise elsewhere and Facebook wouldn't get a cut.
So while protection of privacy is always also the right of one individual, I think it is crucial to realize that this kind of power over "the masses" isn't something any free society could afford in the long term on a systemic level. If we look at a democracy with it's separation of powers, it's institutions etc as a delicately balanced electronic circuit — which has the ability to self correct — players like Facebook are like the introduction of new feedback paths that work better for people who don't mind to sell their soul when abusing them. Of course such new connections will have an effect on the whole system, but the crucial point is, that nobody really considered what this effect might be and whether what we have and like in democracy can actually survive this.
You cannot have free elections if the people voting in it are put into their own matrix-esque simulation of reality. How could we ever find agreeable consent if our realities have no common overlap by design?
I think a lot of people in tech sphere don't really want to see this as they are profiting from this. It makes us powerful wizards who see more and understand more than others.