Metafilter user blue_beetle first put this idea online when he said "If you are not paying for it, you're not the customer; you're the product being sold" in response to the Digg revolt of 2010. The idea apparently existed for a few decades prior regarding TV advertising. I prefer to think blue_beetle was the one who brought it into the zeitgeist.
http://www.metafilter.com/95152/Userdriven-discontent
http://quoteinvestigator.com/2017/07/16/product/
Edit: Alex3917 posted a similar idea on HN on 6 May 2010, beating blue_beetle by a couple months. Gotta give credit where it's due: https://news.ycombinator.com/item?id=15030959
To be honest, this isn't even just about Facebook, I'm sure you could have the same argument about the majority of today's tech companies who are commoditizing information about users and using that to monetize.
Generally, though, this is a trend that is not slowing down, instead it's rapidly speeding up. In addition to that, the methods have become increasingly worse. I'd like to continue discourse on methods of combating this particular phenomenon.
See for yourself:
https://lichess.org/Zqwn4Gzk#87
https://lichess.org/Zqwn4Gzk#88
EDIT: Nope, I'm just a noob.