There are cybersecurity and privacy risks, but I think those concerns are almost secondary to the real foundation, which is how information is used—both that we volunteer and what is extracted or collected from around us. We've heard that this data is not sold, but access to this data is. Ads, specials and offers targeted especially at you in an app are ways these platforms facilitate advertising through the information they have, and similar microtargeting.
I feel I'm using a lot of jargon unintentionally. I apologize for that.