I worked in the industry selling and designing software for Financial Aid offices. You are simply a SSN to them which equals $##,000 in potential revenue
It's hard not to suspect that there is at least some personal vendetta involved here from the media. Facebook destroyed a lot of the business models which were already reeling in the internet age.
"If you lived during the 80s, you'll recall predictions of the Amazon being cut down and the ozone layer being depleted by now. Also peak oil was supposed to have happened, along with several other resources becoming rare."
Isn't it amazing how all the past predictions of environmental doom have been wrong?