That's a myth. It is neither descriptively the case, nor normatively an obligation, that a company maximise profits to the detriment of everything else. There is no such law, legal or economic. (There is shareholder value theory in economics which suggests that shareholder value maximisation is the optimal solution to the principal-agent problem, but that rests on very restrictive and utterly unrealistic conditions. Furthermore, shareholder value optimisation is not the same as short-term profit maximisation, either.)

And who says that profit maximization necessarily has to be "short-term"? Clearly, marketing themselves on strong privacy guarantees is a long-term strategy.