Your eMail Address as Currency

In advance of its much anticipated Initial Public Offering, Facebook entered into a settlement agreement with the Federal Trade Commission that bars the company from being deceptive about how it uses customers’ personal information, and Facebook is now required to get permission from customers before changing how personal information is shared.


Some estimates indicate the IPO value of the company will approach $100 billion.

By any standards, that’s a whole lot of money.


It was all made possible by the 800 million Facebook users who unwittingly shared their personal information without their explicit consent—all of whom have played a crucial role to make this marvelous payday for Mark Zuckerberg, his investors and his employees.

So, where’s your cut?

As the New York Times reported, even younger users are abandoning Facebook amid concerns over privacy and information overload. Does this evidence the beginnings of a Wall of Resistance to data mining? Or is an entrepreneurial play developing for those with the vision to skate for the open ice.

Monetizing the Value of Your Personal Data

Upward of $2 billion a year is spent on third-party data about individuals in the U.S., according to a Forrester report. Erosion of personal privacy ranks second only to fear over the financial crisis deepening, according to a McCann Worldgroup global study on consumer concerns.

And, while the vast majority of those surveyed indicated they perceived major benefits associated with sharing data with businesses online, many consumers appear to be beginning to realize just how much value to businesses is associated with their personal data.

A slew of new internet startups including (DC-based) Personal and Singly (Locker Project), are betting that personal "data lockers" designed to be the digital equivalent of a bank with security infrastructure in place can offer consumers considerably more leverage in realizing fair value for agreeing to share. The market convergence of cconsumer demand and government regulation could ultimately even compel existing data vendors, like Experian, to adopt the data locker model in order to remain competitive.

 
 
 
 
Best wishes to you and yours for a peaceful, festive and healthy holiday.
 
Paul