Just minutes before he was set to go on stage at Ad Age's Survival Summit in Chicago Wednesday, David Carroll, an associate professor at Parsons School of Design in New York, got word that Cambridge Analytica has begun insolvency and was shutting down.

Carroll is perhaps best known as the professor who filed a lawsuit against Cambridge Analytica to gain a better understanding of what data the company has about him. "Data is anonymized, but it can be matched against other data to determine who the user is," Carroll said on stage. "Companies can't promise our data is safe, even when it is anonymized."

We caught up with Carroll after his on panel and asked about his lawsuit, what the Cambridge Analytica story means for marketers and whether advertisers are putting too much faith in the data they gather.