From the author:
We have no choice
This is how the other party calculates when it decides what it wants to offer us "for nothing".
More important, however, is that we do not have a choice from the outset, whether we want to pay either to be left alone, or rather to accept a free offer and sell in return.
A truly revolutionary business model
"The idea that one Company benefiting from social interaction is not so outlandish or new, "said Tannts University economics professor Yannis M. Ioannides to The New York Times.
"A lot of cafes and small restaurants let people hang out with them because they attract other people. What is unusual and new is the fact that Facebook accesses information about these people in order to give their business more impact. The owner of a cafe does not use personal information about me and my friends to earn money. "
Billions of consumer data
To stick with the comparison with the restaurant: hardly a café owner would become a multimillionaire, if he only sets up a few tables and chairs, but never serves anything, because each of his guests brings something to the picnic and takes the work off him.
The value of the personal information of hundreds of millions of consumers is enormous. According to a study by the Boston Consulting Group, it amounted to 2011 billion euros in the EU in 315 and will rise to one trillion euros by 2020. (Liberty Global Policy Series and Boston Consulting Group 2013)
They are the inventory, not the customer!
It is common practice for companies to sift through and sell our data as if we were the inventory, not the customer. According to a study by the European Network and Information Security Agency (ENISA), nearly half of the online services it surveys consider personal data as a commodity, and half of them share this information with third parties.
The researchers conclude that we have no idea what really happens when we move online and leave tiny digital traces on every step of the way. "Our knowledge of the economic value of the data, that is, the cost-benefit considerations that individuals face in commercial transactions where their personal information is involved, is very fragmented."
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