The problem with data
They trust me, dumb f**ks - Mark Zuckerberg, Nov 2004
We should explore . . . universal basic income so that everyone has a cushion to try new ideas. - Mark Zuckerberg, May 2017
Everybody should be allowed to change their mind, including the biggest winners of the current system. The problem is, with the way data is being used and misused currently the engine of growth for Web 1 & 2 is redlining, in serious danger of exploding.
GDPR, CCPA and similar regulations in countries ranging from Brazil, through India to Japan have raised the stakes on fines and ushered in a culture of litigation for breaches and misuse of consent.
Regulators, advertisers and publishers are outgunned; they cannot manage the myriad of players, intermediaries and potential bad actors who capture, control and make money from consumer data.
Here is a representation of the lumascape, which is the ‘map’ of publishers, intermediaries and platforms which exist between advertisers who want eyeballs on their products, and the consumers of content online.This was in 2010…
And here is the lumascape in 2019! Despite the arrival of GDPR, new platforms, types of data from wearables and greater granularity have created an explosion of intermediaries, with most of the data in the world now created within the past 2 years.
Attempts by the data industry to self-regulate by codes, whitelists and frameworks such as that of the IAB have been ineffective to stop the spread of data, and in some cases exposed as contravening GDPR, existing and upcoming privacy regulations.
Meanwhile, platforms have acted as a law unto themselves, but the direction of travel is clear - away from third party control and unfair concentration of the rewards from data commerce towards individual control, agency and a first party relationship with advertisers with transparency and fair value exchange baked in.
Last modified 2yr ago