If the costs of storing data rise faster than data is generated, people will simply be more selective with what data is retained permanently. Most data is junk

If the costs of storing data rise faster than data is generated, people will simply be more selective with what data is retained permanently. Most data is junk anyway, and is only useful in the immediate or short-term. It's also somewhat pointless to debate without talking about a specific type of data. Some of it is highly compressible and is a non-issue.