It used to be Wall Street and Main Street. Now it’s Wall Street versus Main Street.
When you read all the analysis, what can I add, other than connecting the articles to a story that highlights the challenges society faces through this pandemic. The stories are new, the underlying themes are not. I have been talking about them for a couple of years. What is new is that they are getting broader attention. Amplification.
Now we need to do something about it. Before we fall back into the ‘normal’. Or worse – accept a ‘new’ normal, because that is ‘just the way it is’.
A talk that argues that most of the big data is being used to screw us and mentions data trusts as a possible solution. Data trusts are an immature concept but worth considering because it’s one approach to decentralizing governance. Until we figure out data governance principles that are transparent and contextual to specific communities we should limit data aggregation by default and focus on personal agents and other fiduciaries.
Adrian Gropper – in a recent group email.
It is interesting because on the same day I received these words from a friend and occasional colleague Daniel Szuc after he received my newsletter declaring Data is Energy.
Energy is energy. Climate is a result of energy misused. Environment is the outcome. What are the impacts on our environment today, inside people and in the outside environment people live in? What contributes to the health or toxicity of the environment? Data, understood deeply, should be used to contribute to the healthy environment … yet … how is it being used today?
Daniel Szuc and Josephine Wong
The answer, of course, is exactly what Adrian expressed above.
It is being used to screw us.
I am working through Daniel’s words and what they mean in more detail – and will come back to them at a later stage.
To be strictly accurate – we should be talking about Blocking Trackers
… I came across this article (note if you are using an ‘ad blocker’ … then guess what – they tell you that you have an ‘ad blocker’ on …. actually I don’t use an ‘ad blocker‘ – I use a ‘tracking blocker’.
That aside, I thought I would extract some pertinent quotes from the piece and add my comments. The piece appeared in Adage and was written by Jason Jercinovic – and so all the quotes below I attribute to him. Adage says that “Jason Jercinovic is global head of marketing innovation and global brand director at Havas.”
Havas is a pretty good agency that has produced some great campaigns for Air New Zealand, Global Mental Health and Canal+ – so I kind of feel that they (should at least) know what they are doing. I’ll go further. They do – but it is clear that they remain bought into the narrative of ‘poor us – we have to do this 1 for it to work’. They don’t.
So – let’s get too it …
and no one can blame the advertising industry for rapidly adopting them.
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?
Wrong. And they know it. Read more here. No most discussion needed, but if you want to – I’m ready.