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Put a monetary cost of holding user data, and a steep monetary cost on losing user data. Ex, pay x amount per month in perpetuity for each piece of information

Put a monetary cost of holding user data, and a steep monetary cost on losing user data. Ex, pay x amount per month in perpetuity for each piece of information about a user your keep. And have to pay the "net present value" of those payments if you lose the data. Having to pay for hoarding user personal data changes the incentives from gobble up as much as possible, to instead only pay for a users data that is worth the cost to your business. And as an extra incentive to not hold unneeded user data, know the costs you'd pay if it was breached.

mrweasel 6y ago
Who would get this money? I agree that it needs to be some solution involving a cost, given that most of these companies have shown multiple times that profit isn’t just their main concern, it’s the only concern.
- gpm 6y ago
  The government typically... who might in turn do something like a tax rebate (write a check to everyone, ontario has been doing with the carbon tax) or just stick it into the general pool of taxes (reducing everyone's taxes).
  - 29083011397778 6y ago
    So the American government gets a cheque for every other nations citizens that use FB, or FB has to determine where each of their users reside? Respectfully, I'm not sure either of these lead to outcomes we want
- pharke 6y ago
  Think of it like a class action lawsuit on behalf of investors. Instead of entrusting their savings to a company, people are entrusting them with their personal information. If there is gross negligence on part of the company leading to that data being leaked then all of the people whose data was stolen should be able to claim monetary damages. If a legal precedent is established so that these claims can be pursued whenever this happens it should provide enough motivation for these companies to take preventative measures.
anticristi 6y ago
Sounds interesting. Shall we call it "GDPR"?
- mrweasel 6y ago
  Honestly the EU need to finans a organisation to deal with GDPR violation, hell it could finans it self. The GDPR is the single best piece of legislation ever written, in term of privacy, but enforcement is lacking.
  - donalhunt 6y ago
    They already do. The Data Protection Commissioners in each state are growing rapidly to try and tackle the volume of work.

mrweasel 6y ago

Who would get this money? I agree that it needs to be some solution involving a cost, given that most of these companies have shown multiple times that profit isn’t just their main concern, it’s the only concern.

gpm 6y ago
The government typically... who might in turn do something like a tax rebate (write a check to everyone, ontario has been doing with the carbon tax) or just stick it into the general pool of taxes (reducing everyone's taxes).
- 29083011397778 6y ago
  So the American government gets a cheque for every other nations citizens that use FB, or FB has to determine where each of their users reside? Respectfully, I'm not sure either of these lead to outcomes we want
pharke 6y ago
Think of it like a class action lawsuit on behalf of investors. Instead of entrusting their savings to a company, people are entrusting them with their personal information. If there is gross negligence on part of the company leading to that data being leaked then all of the people whose data was stolen should be able to claim monetary damages. If a legal precedent is established so that these claims can be pursued whenever this happens it should provide enough motivation for these companies to take preventative measures.

anticristi 6y ago

Sounds interesting. Shall we call it "GDPR"?

mrweasel 6y ago
Honestly the EU need to finans a organisation to deal with GDPR violation, hell it could finans it self. The GDPR is the single best piece of legislation ever written, in term of privacy, but enforcement is lacking.
- donalhunt 6y ago
  They already do. The Data Protection Commissioners in each state are growing rapidly to try and tackle the volume of work.