How companies turn your data into money..
Hello there! Hope everyone had a great weekend.. Some spent their weekends outdoors at the park and some taking in the calories but guess what most of us did? Lay on our couches scrolling through social media admiring what others are doing with their lives OR online shopping for unnecessary things we don’t actually need.. Am I right or am I right?
Companies are making money from our personal and individual data… is it fair???
Today while you read this I would like for you to question yourselves that “How important have companies like Google, Facebook, Amazon etc all these tech companies become to our daily lives??” The fact that they know all about us and our buying behaviour and pattern and are benefitting through that, again the question arises that is it fair???
Which takes me to todays blog about companies like Apple, Amazon, Facebook, Instagram etc have become such an important part of our lives that they are actually affecting us and especially our mental health and while they are harming us they are benefitting themselves..
Organizations like Facebook and Google and Amazon are too huge and, because of that bigness, they are abusing your information or even suppressing competition. Companies like these are becoming more and more pervasive in our lives with each passing day. They’ve had a relentless development past anybody’s unique desires and thus, they’ve gotten too enormous and excessively unavoidable in our lives. The amount of information accessible to Facebook and Google, which just builds each time the organizations gain smaller competitors, places them in an unjustifiable position.
The Internet was conceived as an open research tool, and therefore was never intended to permit protection or security. Many a times internet users find themselves asking “How did you even find me?”
THE DATA MUST FLOW!
In this very digitally connected era, we all produce huge quantities of information focuses each day. What we search. How we search it. What we purchase, and what we read. What we like and do not like, whom we connected with, a constant flow of information that can be measured, filtered and investigated all at once with the information from every other person, some of the things we’re not by any means aware of about ourselves.
Organizations and governments dip into the information pools of our lives in progressively creative ways, following what we do, who we know and where we go. The strategies and motivations behind information accumulation continue growing, with no end or limit.Including WhatsApp sharing your name and telephone number with Facebook so companies can advertise to you, or a startup that uses your phone’s battery status as a “finger print” to follow you online.
Or on the other hand the information facilitates that make massive personalized profiles about every one of us, which are then sold and used.
IN MY OPINION
A major reason behind the success of companies like for example, Google, Uber, and Amazon is that they have embraced that extracting “information is a benefit”. The reason why these companies have grown so much is because their businesses have grown so much because there is just so much money out there much likely to the private equity & venture firms. Data is literally everywhere. It is generated every second of the day. These tech companies have literally realized the importance of data and that “data is asset” and turned into value and gold and used it to their benefit.
The tech companies side of the story..
On the contrary, Tech companies are getting it all from us. We humans are willing to share all that data and it is us who is giving it all to them.. Data does not just exist. It’s created.
Data is constructed by people, from people.
Thanks for reading xx
