No more than using Google "location services".

Probably the biggest factor compared to something like Tile chips is that it's embedded into the OS rather than an app. You can turn it off, but you can bet that a letter from the right person can compel Google to turn it back on.

When you enable Find My Device, your device participates in a crowdsourced network that collects location data from various Android devices. This means that your device will not only send its own location information but also receive and process location data from other devices in the network.

While Google claims that this data is anonymized and encrypted, there remains a risk that sensitive information could be exposed if security measures fail or if the data is accessed by unauthorized parties.

In other words, there are significant privacy implications as far as I'm concerned.

the worst privacy feature from apple is getting migrated to android. they are using every android around you to spy on you. here come the google airtags