D H
Apr 25 · Last update 20 days ago.

Should tech companies pay their users a data dividend?

Many of the Big Tech firms make big bucks from selling their user's data and manipulating their users into spending more time on their platform to be exposed to advertisements. In fact some of these companies’ revenues are built solely around customer data, and many are coming to see this data as one of the most valuable resources, so much so that “data is more valuable than oil” is becoming an increasingly common trope. As massive amounts of money are made from user data in this way, many have suggested that the users generating this data should be entitled to a share in the profits made by these companies in the form of a data dividend, a small monetary return for the hours spent by users creating content to sell to advertisers. Should Tech companies pay their users a data dividend for the sale of their data?
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In 2018 Google and Facebook made over $30 billion and $22 billion respectively from their users' data, and these companies are completely dependent on this data. Meanwhile inequality is becoming an ever bigger problem, according to the UN more than 70% of the global populations are experiencing increasing inequality, and many of these Big Tech companies are on the driving side of this inequality, steeply profiteering from an exploitative business model. Many of these companies have become effective monopolies, harming competition, if they are not going to address the negative dynamics their business model causes then they risk regulation, they should strive to make their companies an example of fair capitalism. A data dividend could help to balance this out somewhat, with users effectively taking a steak in the company and enjoying a small slice of the pie, the alternative present reality is digital feudalism.

linkedin.com/pulse/what-data-dividend-michael-spencer- news.un.org/en/story/2020/01/1055681 entrepreneur.com/article/319952

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D H
Apr 25
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