No, Seriously Folks, Data Is Not The New Oil

A commonplace of our times is that data is the new oil. An unfortunate thing for people to think for it’s entirely bass ackwards – data ain’t the new oil at all, it’s entirely the opposite in economic terms. And, of course, we’re being asked to think of this data as being that new oil in exactly those economic terms that they’re getting wrong.

Think through this for just a moment. With oil the people who own the raw stuff in the ground get all the money.…

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Facebook Should Pay You 2.52 Cents A Day – The Value Of Your Data

We’ve all seen the fools shouting that data is the new oil. That Facebook makes a mint out of the data we give it for free and therefore they should be paying us for it. Said fools missing two really very important points. The first being that the data, as data, has no value at all. The second that even once it is processed into information which is useful it’s still worth a pittance. At which point the collapse of the entire complaint of course.…

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D’Oh! Facebook Moves 1.5 Billion Out Of Europe’s Data Protection

Just think a little, ponder for a moment, why Facebook might have done this. Is it because Zuckerberg is an evil genius? They wish to rape our data some more? Or is it because they – as we should – understand the idiocy of the way the European Union makes and applies law?

Facebook has moved more than 1.5 billion users out of reach of European privacy law, despite a promise from Mark Zuckerberg to apply the “spirit” of the legislation globally.

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The Correct Facebook Question – How Much Would You Pay For It?

There’s much screaming, as we know, about how Facebook takes our oh so valuable information – that we just give it for free! – and then makes fortunes from it. It’s not really quite true of course, it makes money by selling advertising, the data we hand over simply refining who advertises what to whom. But, OK, let’s think this through a little. Imagine a Facebook which didn’t suck our data in order to improve the advertisers’ experience.…

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Evgeny Morozov Wants To Nationalise Our Data – Then Reinvent The Market. Why Bother?

I’ve long wondered what Evgeny Morozov is actually for. As a deep thinker he seems to be one of the cast offs from a Douglas Adams rewrite. For his latest idea is that we should nationalise all data and then reinvent the market in its exploitation. It would seem very much simpler to just not do the nationalising and leave the market alone. If we don’t value the things that we get by handing over our information – the services of Facebook, Google and the like -, then we’ll not hand it over, will we?…

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Sad Ignorance About The Value Of Facebook And Google

It’s entirely true that Facebook and Google are worth large amounts of money. It’s also true that some goodly portion of this comes from their aggregation of the data we so freely give them. That isn’t though, the same statement as that the data itself has value. Sure, that could be true but it could also be true that it’s the aggregation which produces the value, the data itself being worth near nothing.

And, you know, that probably is the truth, it’s the information which is valuable, not the data.…

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Facebook’s Power Over Our Data – Who Would You Prefer To Have It?

Ellie May O’Hagan makes what she thinks is an entirely uncontroversial statement. One that should in fact set us all thinking because it’s is in fact highly controversial. Sure, Facebook – and others – have vast amounts of data on and about us. Given the technological stage we’re at right now someone, somewhere, is going to have that information. So, who do we want to have it and who do we want to control said data?…

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