Depending on the type of person, millennials either share too much about their life, or just post a lot in general. I believe it is hard to research specifically regarding privacy and information posted. For example, just because someone has 1000 Facebook statuses, does not necessarily mean they are sharing too much about their personal life.
Aside from a personal perspective, there is also a cybersecurity aspect to privacy in social media. I believe that many people don't pay attention to the complex systems in which many social media/purchasing websites provide. A lot of millennials including myself don't necessarily pay attention to the complexity of these security services, unless we are hacked or something goes wrong. We never believe that something bad will happen to us until it does, and that is when most people start to care more about these situations.
A lot of us feel safe because of the complex password processes on many social media websites, however we tend to ignore WHO has access to the internal information posted within our social media (for example: Direct messages/Facebook messenger). Although we believe our messages are safe, many businesses/the government has access to our personal data. We tend to skip over this information because lets face it, no one wants to read a 100 page of terms of agreement. I do believe, however, that the government has the right to access our personal messages when it comes to cracking down on criminal activity.
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