I know this isn’t strictly piracy related, I apologise, but I think it is tangentally related in that piracy protects you from data theft by avoiding the services the biggest thieves operate. Also, I feel like people here might be very interested in this take.
Apparently, the “legal” data brokerage industry was worth $319 billion in 2021, and is predicted to be worth $545 billion in 2028.[1]
Meanwhile, in 2021 there were only 7.9 billion people in the world[2] - many of whom do not have internet access or have very little data being traded. If we generously assume 6 billion people have equal volumes of data being traded, that means each person’s data is worth $53.17 per year on the market.
Data is effectively stolen from people. We do not get anything in return for it. We may be offered access to a website free of charge, but that is a separate transaction - it is not appropriate for another transaction to be hidden in the fine print of the terms and conditions. When you buy insurance, the key terms have to be front and centre - you pay x, you get y service. Not “You can have y for free!!! (But also you give us x for free.)” You’re supposed to be able to compare the value of the things being traded.
Bearing in mind that this is merely data brokerage, not actual processing or deriving any value from the data, a simple profit margin can be applied. They simply collect the data - easily and at low cost through automated processes - and then sell it. If businesses still took a very generous 30% profit (rather than a ludicrous infinite and pure profit) then the value of an average person’s data that they are owed is around $40 per year.
To run the other numbers to check, the global population in 2028 is predicted to be 8.4 billion - a growth of 6.329%. So our 6 billion population would become 6.38 billion, and with the $545 billion market value an individual’s data would be worth $85.43 on the market, or $65.71 to the individual. The value of user data is predicted to rise.
Obviously that 6 billion population figure I used is an approximation - a blind one at that. To give a worst case valuation for 2021, if we assume all 7.9 billion people equally have data being traded, then an individual’s data is worth $40.38 on the market, and $31.06 to the user. These are the minimum values, averaged evenly across the entire global population.
When Google and Facebook started out, data had very little value - there was no market for it. Thus it seemed reasonable to let them just take it, even if maybe it could be worth something. The service they offered was new and novel, a shiny new toy for everyone to play with. They then used this data to become some of the wealthiest businesses in the world. Now, even big players like Microsoft have joined in, in spite of the fact that their main products are paid products.
One form of bank fraud is where the criminal takes pennies out of multiple accounts, the idea being that people won’t notice such a small debit, and banks might write it off as some kind of error. This has been legislated against and proven illegal - yet these assholes take $40 each from everyone and get away with it!
https://www.knowledge-sourcing.com/report/global-data-broker-market Edit: lmao we broke it https://web.archive.org/web/20240107042301/https://www.knowledge-sourcing.com/report/global-data-broker-market …or did they maybe take it down?? /tinfoil Edit2: it’s back up lol ↩︎
It’s true that a lot of data isn’t sold, but a large chunk of the figure you quote also seems to include business data — stuff that contains zero personal information but is still hugely valuable to companies and investors (look at how much this report costs, for example, or consider that a Bloomberg terminal costs around $25k/yr).
And remember, those investment buyers make up a big chunk of the consumer data market too and are only interested in aggregated insights to inform trading strategies. They don’t care about personal info or targeted ads.
Damn lmao did we kill my first source? It won’t load anymore for me to double check what is included.
With regards to consumer data being aggregated insights, rather than personal info or targeted ads, that still doesn’t mean they should get it for free, though. Furthermore, I’d argue that all info is personal info, given that it is so easy to identify a person with very few data points.
Edit: You’re right, it includes business data. However I’d expect much of that data is paid for down to the data subject, excluding the stuff that’s public domain.
It’s not reasonable that business data should be fairly paid for, while consumer data isn’t.