Banking On Your Personal Online Data

snydeq writes "While privacy groups are working to lock away your personal data, a better — or perhaps supplementary — option may be to let you sell it for what it's really worth. 'Whether it's Facebook, Twitter, Google Drive, or Pinterest, the truth is the product is you — all that data about you used to target ads and sales pitches. It's hardly a new business model — it's how trade publications have made their money for decades — but in the online world all that information is easily stolen, traded, and spread. ... If the data has value — and we know it does — its creators (you and me) should be paid for it. And if we take over the selling of our data, all those companies using it now have to respect us and abide by our standards.'"

Comments

um, no

[Anonymous Coward]

And if we take over the selling of our data, all those companies using it now have to respect us and abide by our standards.

Uh, no they don't. This isn't magicalhippieland.

You already do sell it.

[gallondr00nk]

When you sign up for these services, you're already tendering your personal information. The agreement is "you let me use this service, and I'll provide you with X information." Yes, it isn't an explicit agreement, but we all know how this works now.

Like any commodity, your price is set by demand. Saying you want to sell your information for cash is fine, but when the price is already set by the fact there are millions of others signing up to the service for free then your bargaining posture is pretty weak.