I hope regulators fine the hell out of these companies. Enough to make them think twice about offering these upload everything to the cloud services no one really asks for.
Revenue = (value of data per person) x (number of customers) - (probably of data loss) x (probability of fine) x (cost of fine).
If that number is greater than zero, they'll do it, if it's less than zero, they won't.
The CEO of Toyota plays golf with the uncle of the head of the “we track you forever” group. They both feel like the nephew has a big future and there is a ton of money to be made over the next 5 years before the CEO plans to retire.
Plus, according to their marketing team, Volkswagen is worse. Much worse.
There is way less science and way more emotion at play.
So the OP's perspective is accurate. It's not all just golf and nepotism.
"The evidence suggests that Ford relied, at least in part, on cost-benefit reasoning, which is an analysis in monetary terms of the expected costs and benefits of doing something."
https://philosophia.uncg.edu/phi361-matteson/module-1-why-do...
Most variables are impossible to accurately predict. e.g. "Cost/probability of fine" -> how do you model the cost of brand tarnishment?
You don't, therefore its cost is mostly absent from budget calculations.
And if that doesn't work, you can always rename the company.
Although I still don't want them doing it if they think they can keep it safe, so may be make fines for just collecting it without opt-in consent.