"My point was, the "others" in your quote are using that data to make BILLIONS while your privacy disappears before your eyes."
And your point is so general as to become rubbish. Smartphones are small computers, and the privacy implications depends on what software you use and how you use it.
"Map GPS tracks where you go and what you do."
No, it doesn't. If you use a GPS application that has offline map data, it doesn't report where you went. You have many options, most of which use data from Open Street Map, and some of which are open source, which permit you to have navigation and privacy. Even if you use one that does report where you went, it doesn't automatically report what you do there.
"apps / photos / video are parsed by bots with facial recognition to determine who you hang out with and your social activities."
Nope. Some smartphone camera apps do facial recognition to organize photos, but that doesn't mean everything else is parsed or that the data is uploaded anywhere. Many phones lack the feature or can have it disabled. You can also install a different app for taking pictures if you don't like what the factory one does, and the factory one will no longer be able to run on that data.
"Your credit rating, insurance rates and even potential job prospects are impacted."
Now you're just making stuff up. That is a potential risk with the misuse of private data, but it doesn't automatically come from owning or using a smartphone and you know it.
"Smart phones do everything for you, making you dumber. Phone runs out of battery and kids can't operate today."
The ever-popular assumption of generational superiority with no evidence to back it up. Your parents might have had one about you too, whether that was about the stupidity-inducing power of computers, television, radio, electricity, telegraph, cheap oil lighting, easy availability of written content, general availability of written content, or existence of writing altogether. You know how that assumption about you being stupid is pathetic? It applies to this one too.