The Dangers Of Our ‘New Data Economy,’ And How To Avoid Them

The transcript discusses the growing importance of data in the economy, highlighting how corporations acquire and assert ownership over personal data without permission. It raises concerns about the lack of regulations governing data collection and usage, questioning the legality of trading sensitive information. The potential for harm, such as misuse by insurance companies, is contrasted with benefits like improved services. The transcript calls for technology companies to acknowledge their responsibilities, for government to balance business and consumer interests, and for consumers to recognize the hidden costs of convenience.

How do corporations typically handle personal data they acquire?

• They ask for permission before using it.

• They acquire it and assert ownership indefinitely.

• They only use it for a limited time.

• They share it freely with consumers.

What has contributed to the rising value of data?

• Decreasing number of smart devices.

• High cost of data collection.

• Proliferation of smart devices and low-cost networks.

• Strict data privacy laws.

Why is there concern about the legality of data collection practices?

• Data is always collected with consent.

• There are strict rules governing data use.

• Data companies often bear liability for misuse.

• There are few rules about data gathering and use.

What is a potential risk of sites tracking mouse movements?

• They can improve user experience.

• They might detect neurological conditions without user knowledge.

• They can enhance website security.

• They can reduce data collection costs.

What must technology companies and governments do regarding data use?

• Ignore consumer interests.

• Acknowledge their power and enforce a fair balance.

• Focus solely on business interests.

• Reduce data collection efforts.