Look at gmail, for example. How do they "monetize personal information"? Or look at twitter. If I set my account to be protected (which I do) then I have a modicum of security in knowing that my personal messages won't be viewable by the entire world without me knowing about it.
It's not that difficult to get the basics of privacy right. Many companies do it just fine. The difference is that facebook doesn't care.
Look at gmail, for example. How do they "monetize personal information"? Or look at twitter. If I set my account to be protected (which I do) then I have a modicum of security in knowing that my personal messages won't be viewable by the entire world without me knowing about it.
It's not that difficult to get the basics of privacy right. Many companies do it just fine. The difference is that facebook doesn't care.