A few years ago the Norwegian Spy Chief was taking questions from the media. He actually pointed out that we should be more worried about the data collection of private companies than that of the Norwegian state. Their data collection was regulated and small in scope. Big tech data collection is seemingly neither.
Data collected by Big Tech can be misused by others. In many ways this is a significant security risk. Not just from data breaches, but also that people can be manipulated in groups. This is a significant problem and the easiest way to resolve it is to stop the tracking and ban surveillance-based ads.