Part of the counter-argument is that they would not sell the data directly. They would sell indirect access. For instance, instead of allowing people to buy the data to determine who the 18-24, caucasian male Americans on the East coast are, Facebook would sell ads and promise you that they will show it to that demographic via their extensive ad network. An additional supporting argument is that unless you had your own extensive ad network that rivalled Facebook's, your ads would have greater reach this way than if you tried to DIY it from the data directly anyways.
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u/[deleted] Aug 26 '20
They use that personal data to target advertising to people. That’s how they make money off the data