Startups are now offering people “passive income” for their personal data. These companies claim to empower consumers to profit from personal data. But actually, they entrench an attention economy where cash-strapped consumers trade personal privacy for quick cash — much like the plasma-for-cash biz. Data exchanges broker the sale of personal data between the people who generate it and the large companies hungry for it. One, Streamr, connects real-time personal data with companies via subscription. Another, UBDI (Universal Basic Data Income), buys personal data and sells “insights” to companies. At first glance, it’s tempting … If my toaster and my watch are already collecting data, I might as well get paid for it, right?

The Hustle

My Take

Wrong. And they know it. Read more here. No most discussion needed, but if you want to – I’m ready.

What is Data anyway?


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