I would guess that the elderly are much more skeptical about handing over their personal information online than younger generations. For example, Facebook started off in colleges. And other forms of social media like Snapchat, Twitter, and Instagram are predominantly used by younger cohorts who are ambivalent about what companies might use with their data. The information about data collection is out there, what with Google searches and all. People choose not to abstain.
I'll give a more recent example: I meet 20-somethings at a meetup I go to each week. Most of them go to a pretty well-known university (thus, they are well educated), they ask me if they can connect with me via Facebook. I say I don't use Facebook, and then spend an extra 20 minutes explaining all the reasons why often to their astonishment. In my mind I'm like, "Really? How do you not know all of this? You read tons of magazines/journals?"
The sad reality is that billions of people don't care. Even with this whole scandal, I'd be shocked if Facebook's stock price was hurt in the long term.
I'll give a more recent example: I meet 20-somethings at a meetup I go to each week. Most of them go to a pretty well-known university (thus, they are well educated), they ask me if they can connect with me via Facebook. I say I don't use Facebook, and then spend an extra 20 minutes explaining all the reasons why often to their astonishment. In my mind I'm like, "Really? How do you not know all of this? You read tons of magazines/journals?"
The sad reality is that billions of people don't care. Even with this whole scandal, I'd be shocked if Facebook's stock price was hurt in the long term.