It used to be that the law couldn't catch up with the fast change in technology, now it's us the people that can't keep up. All my friends using Facebook don't comprehend what is going on, it's just pictures right? The idea that FB is creating highly detailed profiles of every user, and selling them to anyone who will pay, is just dismissed as a joke. What good can come from this I wonder.
They (facebook) are the middle men - people who have money come to them to sell their product, and facebook knows who to show those products too.
your friends (and mine, and a huge percentage of facebook's userbase) trust facebook enough for that to happen.
And it does not help anyone's cause when people say "X company (be it Google, Facebook etc.) are selling your info".
Whenever someone asks "what nefarious thing is this company doing with my data?" the answer is rarely "something really, really bad!". Rather, it's almost always "trying to sell you something".
FBI (via NSL):
"Hey FB, show me all the posts from right-wing pro-gun users in within 20 miles of X because we think there's something going on near there".
or
"Hey FB, show me all the people with pictures taken outside the US with Middle East looking faces/names who are living in South East Michigan".
And I think that, in turn, is holding the law back further. If people don't understand why something is a problem, they don't care and nobody is going to waste time evolving the law to protect them from harms they don't even know are occurring.
Even if you are paying, you are still the product. More-so if the company is a startup waiting for a buyout.