The Leakage of Value

The Matrix serves as a fitting analogy for the daily reality of our data. We are tracked in numerous ways every second—from our smartphones to the games we play and our social media interactions.

Here are some key tools collecting our data:

• Smartphones
• Smartwatches
• Smart appliances
• Vehicles
• Software applications
• Internet browsers
• Internet service providers

Countless methods exist for collecting data on all of us daily, creating a constant flow of valuable information while we receive little in return—sometimes even paying for the privilege of others profiting from our data.

Consider those annoying pop-ups when you download an app or activate a new device, asking for permission to send bug reports. By opting in, you are essentially conducting their market research for free.

Did you know that Amazon adjusts prices based on its data analysis of customer buying habits? If their algorithm predicts I am more likely to purchase an item than someone else, I might see a higher price.

Amazon changes its prices around 2.5 million times a day, as mentioned in this article:

How Does Amazon Use Big Data? Insights for 2022

In order for Amazon to make data-driven decisions, they have to gather it first. All in all, Amazon collects around...

Why aren’t we utilizing an open-source app to collect our data and negotiate as a unified group with corporations like Amazon, Apple, Microsoft, and Samsung to receive fair compensation?

Wouldn’t you be interested in tools that allow you to analyze your data for personal insights?

Not long ago, companies had to pay individuals to participate in focus groups to gather information about their products and pricing strategies.

Now, we willingly provide that information for free on a daily basis.

It’s no surprise that many of the world’s most valuable companies today are fundamentally data-driven, leveraging products and services to obtain this information.

If our data is what fuels their value, where are our stock options?

We Are the Product

“If you’re not paying for it, YOU are the product.”

Here is a graphic illustrating the extensive data points the largest data brokers possess on individuals:

According to recent reports, the global data broker market is projected to reach $462.4 billion annually by 2031.

I suspect this estimate is conservative, given the strategic importance of data to businesses, governments, and military organizations.

If we are the product generating massive revenues, why aren’t we reaping any financial benefits?

The Industrial Revolution was driven by oil. Without it, growth would have stalled. As we advance through the Information Age, data is just as vital.

If you had discovered oil on your property a century ago, would you have given it away for nearly nothing? No, you would have sold the rights for a substantial sum.

The Undervaluation of Our Product

The situation is no different with data—except that your data won’t diminish until the end of your life.

Machine learning and AI require significant amounts of data to be effective. The future success of AI programs will directly correlate with the volume and exclusivity of data available to them.

The sheer scale of required data is mind-boggling.

Since only large datasets hold real value, individuals will need to band together into larger collectives comprising millions—ideally billions—of people.

Otherwise, we risk receiving underwhelming offers for our data. We must collectively demand fair compensation to ensure it is worth something.

If we can organize effectively, we can establish a much higher and more accurate market value for our data compared to how it is currently sold in the gray market.

The Worth of Your Data

Even now, our personal data retains considerable value:

• A single email address over time: $89
• Access to social media and credit card transactions: $96/year
• Your complete health record: $250
• Banking records: $4

Furthermore, various types of data are traded, including:

• Location data
• Retail/shopping data
• Relationship data
• Demographic data
• Browsing data
• Wearable device data
• Smart appliance data
• Smart home data—energy use, sleep patterns, temperature settings

Imagine the value we could extract by pooling our data into one comprehensive bundle, linking it to our complete demographic profiles.

The High Cost of Privacy

Thus far, we’ve examined the financial losses we face due to a lack of understanding regarding our data's worth.

However, a greater risk lies in our privacy, which is severely compromised as we unknowingly consent to these data contracts. Location data, in particular, raises concerns about potential surveillance by authorities.

We are told that allowing phone companies to track our data will enhance our safety in emergencies—even though there’s little reason to believe this claim.

This mirrors how we permitted the Patriot Act to erode our freedoms in the name of security post-9/11. The narrative goes that we’ll be safer from terrorists if we grant the government unprecedented surveillance abilities.

This power will only be used to target wrongdoers…right?

Unfortunately, this flawed reasoning has led us to be monitored. In a police state, control begins under the guise of safety until we realize we need protection from the state itself.

As a society, we are already in over our heads regarding the impact of technology. We have rushed forward, focusing primarily on the benefits of technology without considering the potential downsides.

I am not opposed to technology; I firmly believe it is vital for humanity's future. However, we must navigate this landscape with awareness of both its advantages and disadvantages.

Humans evolve at a much slower pace than technological advancements.

Our cognitive abilities provide us with adaptive capacity, but they are insufficient to keep up with the comprehensive effects of these technologies on our lives.

Imagine if major data companies were willing to collaborate, merging their datasets to help us understand how technology impacts us.

That would be the right course of action, considering the wealth we have already generated for them, wouldn’t it?

Unfortunately, their shareholders likely wouldn’t approve.

After all, if we had real insights into how we’re being manipulated daily, we might not purchase as much of their products, would we?

This issue is something I am deeply passionate about, and I believe it deserves more attention.

Sometimes, a topic can feel overwhelming, making it challenging to know where to begin.

This is too critical to postpone.

The problem is present NOW and continues to escalate.

Tech companies have had ample opportunity to act responsibly and address this as ethical corporate citizens.

It’s evident they will not take action until we compel them to do so.

Let’s urge them to stop exploiting us sooner rather than later.

Thank you for your attention and insights.

I look forward to your thoughts.