February 14, 2019

EVERYTHING IS A COMMODITY:

California governor wants users to profit from online data (DON THOMPSON, 2/14/19, AP) 

California Gov. Gavin Newsom has set off a flurry of speculation after he said the state's consumers should get a piece of the billions of dollars that technology companies make by capitalizing on personal data they collect. [...]

Axios calculated that the average Facebook user is worth $7.37 to the company, while a Twitter user is worth $2.83, and a Reddit user, about 30 cents. The calculation basically divided the companies' annual revenue by their monthly active users.

Steyer promised "landmark legislation" that will change the way consumers view the value and privacy of their online information. Most consumers don't realize that companies "are taking your data at extremely detailed levels and selling it and monetizing it," he said.

"You're basically saying, 'It's my data,'" Steyer said. "And if you do use it, I would like a portion of that because you're monetizing my personal information. That's a big deal, and that will represent an enormous step forward for consumers in California and all across the country."

On the other hand, it seems fair to ask what the value is of these services.  Can we even quantify the value of free Google?

Posted by at February 14, 2019 12:03 AM

  

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