5 hours a day. That’s how much time an average person spends on the internet. But is time the only amenity which we are giving away? The answer is NO. We all know that companies make a lot of money by selling our data, and I mean a lot. After thorough research the number is between $125 – $200/user each year. Seems pretty low, right? This is from counting only the revenue they get from the ads we see, not of all the advancements they achieve using our data. The data game is huge.
According to Cambridge Analytica, during the American Presidential elections of 2016 Facebook earned more than $40 billion by manipulating ads and selling user data. I think the ad revenue which companies make is totally a valid and ethical way of doing business.
But what about the money which they make by selling our data? I believe its a scam which is completely unethical and breach of privacy. So why are we simply giving away our data for free? How necessary is this charity, and do these mega-corporations require this much affection?
I believe we should have the authority to determine what happens to our data. We should be the transaction handlers who deserve a share of the earnings made by selling or using our data. This will make companies answerable to us which they simply neglect at this moment in time. This Internet Charity needs to stop and the law-makers need to come up with something which helps us get a share of these profits which we rightfully deserve.
– Ankit Rai