"If you think Facebook knows a lot about you, try Google," Kevin Landis, CEO and chief investment officer of Firsthand Capital Management, told CNBC's "Closing Bell" on Monday. "They know every search you've ever made and everywhere your Android phone has ever been."
Despite people's fear of privacy disclosures after the Facebook data scandal, users and investors alike don't seem to mind Google harvesting their data. Google's parent company Alphabet on Monday reported first-quarter earnings that beat expectations on earnings per share, revenue and operating income.
"People are more honest to Google," Stephens-Davidowitz said. "They tend to tell things to Google that they don't tell Facebook, about what they're really thinking, their health conditions."
That's not necessarily a bad thing, said Stephens-Davidowitz, who is also author of a book on big data, "Everybody Lies."
"It helps to make the product better," he said.
If users were to "freak out" and become more cautious about the amount of data they're sharing with the search engine, that could be "really, really bad for Google," he said.
Increased regulation in the technology sector is still a concern, said Landis, who owns shares of Alphabet through his mutual funds.
"That could actually be a bit of a cloud over the stock," he said.