That's correct.That makes it all sound like a conspiracy. In truth the tech companies just want to collect and resell as much customer data as possible....welcome to 21st century Free Enterprise / Capitalism.
If people knew what info is gathered on them they would faint.
There are database companies that buy your credit card data etc. because they want to know what you buy, where you buy it, how much you spend, where you travel to, etc. and populate their info on you. Your smart phone tracks where you are within three feet all day long. That can all be merged to micro target you. It's all done by predictive analytics with neural processing, getting smarter with every transaction.
And don't get me started on the political uses of all this. Using your Facebook and twitter info they know what side of the fence you are on and who you will likely vote for.