@michaelkuntz, welcome to Bubble!
I semi-answered this question the other week on this thread. Take a look at that and then the comments below.
To provide more detail, the privacy settings that Bubble is prompting you on relates directly to database privacy (ie. defining under what conditions data can be accessed).
In some cases, you may have a really simple framework: ex. you have a private blog, and people need to “register” (create an account) in order to the see that content. In this case, you would create a database privacy role of “When current user is logged in”
As your app becomes more complex, so to may your database privacy roles. Say that you’re building Netflix. All of the titles should be accessible to logged-in users. However, their watched history (ie. “Viewing Events” saved as separate records in the database) should only be visible to them. In that case, you would define a rule as something like “This Viewing Event’s creator is current user.”