What I don't get about this whole issue, is that we are basically admitting that the average person who uses these services has poor critical thinking skills and the American democratic process is easily gamed as such. I feel we are trying to fix the wrong thing. Sure, regulate FB and any other company that happens to collect lots of user data I don't have a problem with that. My fundamental issue is that FB is mostly an opt-in service. As far as I can see, the shadow profiles they create on a user who isn't signed up for their services doesn't really contain enough data to be of material impact for the type of things that a company like CA is doing (it's mostly to help in it's ad network to sell you more stuff rather and is rather well anonomyzed).
The only argument against the fact that FB is an opt-in service is that it has a near monopoly on social media and seems to either buy or kill any serious threat. More important than trying to regulate FB's data collection and privacy would be ensuring that our antitrust and monopoly laws are being enforced to remove FB's near monopoly.
Further, I'm not here to defend Facebook, but I feel it's being used as a scapegoat for an easily gamed democratic process where rather than biting the bullet and fixing that, we are saying it's FB and CA are the real evil here. In fact they are not. They are for-profit businesses who are operating within the current regulatory framework they've been provided. It seems obvious to me what really needs to be fixed is a broken electoral process.