Why? Do you find it terrifying that your doctor, hospital, and health insurance company have very strict regulations on keeping your health data private? I, frankly, find it distasteful and terrifying that they have essentially no regulations on the data and can do whatever they want with it. I mean look at what happened at Equifax for example.
Early in their history, credit agencies collected very private personal information about people for inclusion in their credit files. The information in peoples' credit files was frequently inaccurate, and consumers had no way of correcting that information, and no way of even knowing what was in their credit file.
The Fair Credit Reporting Act [1] limits the information that credit agencies can keep on people, mandates that people be allowed to access what is in their file, mandates that people be able to correct inaccurate information, and restrains how third parties can access the information.
In fact, that all sounds like a great start to regulation for social networks and other internet giants!