I have no problem with the fact that Facebook has to gather and distribute some sort of information on you to get advertiser money, it's just a matter of the way they do it. There's obviously the whole Facebook uploading all your contacts without your permission issue (IIRC, that's still going on) and the fact that for whatever reason whenever I open up the Facebook app on an Android device, the GPS icon in my notification starts blinking that my location is being obtained. Which, if it were a rough network-based location to get my current city for targeted ads is fine - but it's not, and obtaining my exact location without my permission is not okay. (That's one of the things iOS gets right - per-app configurable permissions, it's a shame Android has nothing like it without a custom ROM.)

To clarify, I think Facebook (the app) itself is fantastic. The issue isn't the tech, it's the shady behavior by the company who develops it.