As a parent working in cybersecurity, I am all too aware of the privacy and security risks that come from participating in social media apps, forums and online games. So much of our personally identifiable information ends up breached or leaked and in the hands of nefarious actors. I can't help but obsess over the level of sophistication and creativity future cybercrime campaigns will entail, and what younger generations can do now to circumvent falling victim to identity-based attacks. 

Short of deleting the app, this article offers some tips and tricks to limit the data collected and they type of ads displayed. Though it doesn't solve the problem entirely, at least you can have some control over what is shared and leveraged by Facebook/Instagram.