Data is everywhere, and that includes our personal data, despite many people not realizing it. It's far from worthless too. Social media companies find it so valuable that they sell it for billions of dollars worth each year. We go on their sites, and we give it away, for free, while they control the flow of all data that the rest of get access to.
Source
If they want to change what we see, they do, as they have been doing in the last few years. Facebook, Twitter, YouTube and even Google have algorithm that alter and affect what we get to see. This influences what we have access to and can even think about by being exposed to it or not. Twitter has been caught tampering and shadow-banning republican voices. The mainstream media denigrated counter-narratives as "fake news" as the continue to dominate the minds of the public.
Mainstream media has been feeding people what to believe and think about, and now social media is taking over with record profits by comparison. They get their power and money from us, the saps who feed them our data. How much of yourself are you sharing to help feed their media empires? As a result of the power we've given them, they are now in positions to influence the social discourse and public consciousness.
The Guardian in the UK is even covering their dominance of data. "Data has become the world’s most important resource," they write, the "new lifeblood of capitalism". All our personal info, preferences, likes, dislikes and everything in between is now "the world’s most important treasure", the new treasure of treasures for the 21st century.
An revolution evolution needs to happen, where we don't just give our data away fro free just to use their services for them to make billions of dollars from. They don't have our best interests in mind, and want the government to but out of trying to possibly limit their ability to use our data for their profits.
Should we continue to let ourselves be exploited, or should the government step in to help us from our own foolishness? It's a tricky argument. If we accepted the non-interference of government in all aspects of life, we would probably still have slavery as an overt dominating factor of industry since the economic interests would have simply kept on going as they had been. Human slavery was legal for thousands of year, and only recently in history has it become recognized as a wrong across the board and acted against. Should we have let thing continue simply for the ideal of non-governmental interference? Or do we have to put up external control towards moral ends when the rich powers refuse to engage in moral self-control?
We have "laws" to prevent monopolies that would overtake industries and be able to manipulate prices with a disregard for the customer in favor of maximizing as much profits as they can. If companies acted morally, or if people wouldn't support the immoral practices, things could change, but we aren't taking up our personal responsibility to no participate or support what's wrong. We just go along to get along.
The data monopolies are bing ignored by policymakers and the public alike. People just want the marketplace of interaction on social media, and don't really care about their data or the profits being made from it. Do companies really need all that data for them to operate, or even turn a profit to stay in business? Making billions of dollars a year isn't a necessity to stay in operation, or improve how things operate.
Our exchange of personal data between each other allows them to siphon and feed of of it. Social media giants want to be able to do what they want with our data. The Internet Association, who's members include Facebook and Google, has giants banded together to stop the government from stopping them from doing what they want with your data.
They want to be able to move the data around as they wish, stopping the government from limiting them to keeping sensitive personal data "stored or processed in the country where it's acquired". The Internet Association also wants to forbid the government from having them share details of the algorithms. They want regulators to grant them these "rights" or "protections".
Government may not be the best to have the publics interest in mind either, but that doesn't mean social media companies do. Governments also gather our data and spy on us. Although, they may not be making billions of dollars from it each year. Both of these sectors lack transparency about what they are doing with our data and the algorithms they use to manipulate it and us.
Social media has become an addictive facet of our modern lives. It's engineered to be addictive, as seen in the "The Social Network" about Facebook's origins. We might need to face our social media addiction and stop the juggernauts from dominating the present and future of our societies.
Thank you for your time and attention. Peace.
References:
- Data is wealth: Your personal info is now worth so much that it’s a mistake to give it away to corporate America for free
- Data is the new lifeblood of capitalism – don't hand corporate America control
- Priceless
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As we both know, social media feeds people's dopamine addictions. One of the fastest growing sub-sectors in the development field is "retention specialist." As in, your job is to figure out how to make the next page design and series of clicks just a little more addictive.
So, the "price" of our addictions is the willingness to give up our information... and that model might keep flying for another five, maybe ten years. Then "creeping elegance" will set in... we're always seeing the fringes of it: "premium" versions and little "mini subscriptions." Paywalls. At which point people will already be so addicted (especially "technological "natives" born 1995 and later) that there will be little question... "Oh well, $4.99 a month isn't that much...."
Really? Online content and info actually has very little value, at the individual level. The average FB account adds about $17 a year to Facebook's cause. Not a lot. Coercing people to pay $4.99 a month to still be able to access the "stuff" they (by then) have 15 + years invested in will be a walk in the park and TRIPLE their bottom line.
And guess what? They will still be able to filter content to show us only what THEY want us to see.
What's the answer? What's the reality? I keep coming back to the notion that most people don't WANT "personal accountability." They just want to hand off responsibility to someone else and watch another episode of "Keeping up with Kardashians."
Personal responsibility and accountability is what most ppl run from :P Anything but taking that load on :/ The attachment to time invested is a good strategy to exploit and gain more profits indeed. Self-knowledge is a basis to help free ppl and have them want be more responsible. Learn about psychology and attachment, then greater freedom is possible.
Sometimes I fear I am giving away my thoughts, opinions and information too cheaply here on Steemit. I am sure someone somewhere has that data and at some point it may be used against me. LOL At least I am not giving it away for free. Thanks @krnel
Yup, at least your're getting paid ;) :P
thats why the 7 day payout limit is horrible.
as steemit will 'sell' the data until the end of time?
This is exactly why I said good bye to Facebook! Not only was it a HUGE waste of time, but it's also creepy what info can be collected from you while you're on it. I only use Instagram sporadically, but mostly to watch BJJ techniques LOL
Good move ;) It's a crackbook for many, sucking up time for sure ;)
I once worked for the digital arm of a Top 10 advertising agency, 60-70 moons ago.
There was only one term of relevance at that time: CRM.
Anything account teams pitched had as underlaying core to gather data, accounts, and everything else in order to later feed from the CRM to targetable silos.
In fact, as Entrepreneur in Residence, I even remember pitching that location was a literal goldmine when combined with liked interests. Screw people liking cruise ship holidays but living in less affluent areas... unless, of course, you are looking for ship staff rather than for spenders who have $5k spare for 3 weeks.
You kow the three most important things for a restaurant?
Location, location, location.
This is also true for those who cater for other customers.
We should be getting paid for this. I think with th evolution of blockchain, big social media outlets such as Facebook, Twitter, even YouTube will actually start adopting this reward scheme and have their own coins. It’s surely (hopefully?) going to be the only way for them to compete in a few years when new platforms come out that are just as user friendly but offer rewards through blockchain for the ‘likes’ etc. Many people will be earning so much with the amount they use Facebook etc.... could all get pretty crazy.
Yeah, Facebook is already developing the own token platform as I heard lately.
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Facebook is like drug. It is not just Facebook and other social media. But Facebook is a bit more confusing. It is difficult to understand the real news and the fake news.
Seems to me that the government and these social media established news places are all the same organization for the most part.