[winternett]

Narrow scope scenarios don't properly serve the discussion.

If Dunkin Donuts (a coffee shop) runs an app and gathers data about your purchases linked to you name and ID, they can any time later sell that data to life and health insurance companies, which in turn can use that data to justify charging you higher rates when you sign up to a life insurance or health care plan. That may not be happening now, but it could easily be rampant in the future in thousands of ways, and it's just a minor example of how people can be undermined financially by personal data overreach within private companies.

Social media companies have a lot more data than that if they consistently track users by location (under the false guise of targeted marketing), and there's no real public awareness nor understanding of these issues to this day.