4 ms·
1. In a capitalist society price is dictated by supply/demand I would expect Facebook's valuation is less about knowing you like dogs and more on the fact that
by svrourke 5y ago
1. In a capitalist society price is dictated by supply/demand
I would expect Facebook's valuation is less about knowing you like dogs and more on the fact that their advertising system allows people to show dog teeshirts directly to people who like dogs
I'm surprised the average user's data is worth even $20/year
- wintermutestwin 5y agoYou are severely underestimating (or understating) the power of big data. You really think their stalkertech amounts to: user#=1337, likes=dogs???
- svrourke 5y agono but back to the economic argument the supply is so significant that no one person's data is worth jack unless they're a politician or something like that. Individually its basically worthless.
- wintermutestwin 5y agoShouldn't I be allowed to set the price for my data? Frankly, I don't want to sell it at all, so these companies are essentially engaging in theft (ergo "FaceCrook"). Due to their network effect monopoly (and the blatant failings of our govt to effectively enforce anti-trust laws and to generally protect consumers from corporate abuse), I am forced to use their platform. Even if I didn't, they would still be stealing my data.