Ok, that's fair. Here's a list of things that worry me, specifically related to Facebook, but they can apply in other cases.
- Private messages. These can be really dangerous for personal relationships and community standing if leaked.
- Profiling data: friendship graphs, location pings, browsing history, political alignment, sexuality, religion. Can be used to make targeted attacks on individuals by predicting their behaviors; to track an individual's influence in communities; to create credible misinformation about the target or their community; to make strategic decisions that will minimize a person's/community's influence in the outcome (for instance, politically).
- Images. Can be used with automated systems to deanonymize crowds and thus passively surveil.
The issue isn't so much zero-sum. I'm not worried about a sudden crackdown on citizens that's orchestrated through this data, because there are other more relevant safeguards (like cultural health and the functioning political process). I'm more worried about the value of the information as intelligence in political strategy.
Anthony Weiner's embarrassing blow-up is a good extreme example - not that he was targeted (it appeared to have been self-inflicted) but it shows what embarrassing information can do to a politician. Facebook has that in spades, and I'm certain there will be politicians looking to buy.
The more subtle applications are more troubling. Applied well, the dataset could be queried for potential or active dissidents and used to discredit them. It wouldn't be hard, either. Make an anonymous tip to someone's SO that they cheated once, perhaps - if their marriage blows up publicly, that's a success. Think of a pastor or a CEO, in that case.
This sort of thing doesn't happen yet (I hope) but information "wants to be free," which is why you can't let it out once. As I suggested before, there's system breaches, unethical sale of data (perhaps even by employees) government mandates. It's not like any of it is unheard of even before the big data era. And even if most citizens are not a target, by complying with the arrangement, we endanger the people who could protect us by dissenting. The health of our cultures and our republics relies on distributed pockets of inalienable authority - in this case, over private information.
Should you stop using Facebook? I don't know, it's all about trade-offs. I do my best, but I've still got a gmail account and a linode setup, the former because I'm more worried about system breaches with my email, the latter because I can't afford dedicated hosting. I don't like either situation. You can call me a bit hypocritical for that too, but the situation is partially social, so I advocate for change as hard as I can.
Lately I've been thinking the best strategy possible would be to call for Facebook to release self-hosting software that's still compatible with their network. But there's also the possibility of somebody creating a really superior alternative, and that would be nice too. That's what I work on, but it's really hard to beat the featureset.