Here is where I'm going to get philosophical with you regarding our trade: all that data can make marketers lazy and create lazy ads because they are focusing on the data. From working on the creative side, I cringe at bad ads, but most agencies and brands don't give a shit, as long as they're effective.
On the flip side it stops people from wasting huge amounts of money on ineffective advertising and creates better efficiency. Big brands could just market regardless for brand awareness purposes, while a bad ad campaign can kill smaller companies.
Agreed. I think that there will be cases in the near future that will bring this topic to the forefront. One example is of the child porn dude who got busted because of Google. This is an instance where no one is really complaining, because it got a scumbug/pedo off the streets. But there will be an instance where something pops up where something someone does in the privacy of their own home is brought to the light through data and he suffers negatively from that info.
I remember a dude sued LA County because he ran a red light and the red light camera took his picture. They mailed the ticket and evidence to his home, and his wife saw him in the car with his mistress. Dude was fucked and ended up suing the county because the wife filed for divorce. From that point forward, passengers in red light camera pictures faces are blurred.
It's all a slippery slope.
I have a website with social engine software and when I started looking at the features, it was a bit creepy. I could see all the private messages and chats that people were having between each other. It was incredibly intrusive... so part of it is indeed trusting that Google won't do malicious things with the data and that there won't be security leaks.

exactly i dont want nobody making a penny of me unless im getting my fair cut.

