There aren't that many possibilities on how geolocation data vendors get access to high-precision location data of millions of people. A publicly traded company that generates revenue from targeted ads can never be fully trusted to behave. A social network that optimizes for time spent looking at ads will never really care about its users well-being. Algorithmic feeds are responsible for a widening social divide and loneliness. Highly detailed behavioral analysis can hurt people even when aggregated, for example when they get less favorable insurance terms based on their spending habits. Data that can be used to increase revenue will not be left untouched just to keep moral higher ground. Sensitive information shared with an LLM that end up in training data today might have dangerous consequences tomorrow, there is no way to know yet.
This isn't even about proper handling of individual pieces of data, but the higher-order effects of handing control over both the world's information and the attention of its inhabitations to shareholder-backed mega-corporations. There are perverse incentives at play here, and anyone engaging in this game carries responsibility for the outcome.