Not exactly, or at least not at the moment. For instance, I would much rather to put all my family photos on Facebook compared to the steemit network for the simple reason that at least Facebook provides such functionality that I can restrict who is allowed to see my information, photos, etc. Whilst on the steemit network which is a public ledger, anyone is able to see any data they wish about anyone else, and at this moment is not possible to control who is allowed to see what you post and what you don't want certain groups of people to see.
Currently most of us already understand how Facebook and other big cooperations use our data for marketing purposes, and it could be used for many other uses; so there is a real concern there and this is why I feel government intervention is important. At the end of the day, this is why many countries around the world have a government, and that is to protect its citizens.
Obviously, business is important and that's what creates jobs, and Facebook, Google, Apple and all others, do create many many thousands of jobs in America and around the world, so there needs to be a clear line for government to punish business when necessary to protect its citizens but also to ensure that don't punish them until they are not able to do business any longer which creates unemployment.
I want to see how the US and EU governments tackle this issue. I would also hope to see more proactiveness from other big players and governments particularly in China where companies like Alibaba and Tencent are using the same techniques, and I would like to see how the Chinese government would tackle these issues. One of the reasons for this, is because now companies like Alibaba and Tencent are already well established in China and beginning expansion in Asian countries and through-out many other parts of the world.
Well explained, thank you! All though, I would disagree with the idea of losing jobs. You are absolutely right about companies like facebook creating thousands of jobs, but if everybody would use Steemit or similar (more advanced) and revenue would be shared among participants, this revenue would replace lost jobs, would actually increase amount of people profiting and wouldn't cause the economy to collapse and tax money would continue to flow in direction of the government.