111–120 of 285 posts
The biggest unintended consequence I see is that more tech businesses will have to charge for their service rather than make money in opaque ways.
That sounds like the renaissance we've all been waiting for. Every would-be entrepreneur's wet dream is a $20/month subscription for Facebook.
Earlier quoted context omitted.
This. Leaving databases exposed to the net. Leaving S3 buckets open to the public. All of these sorts of things needs to carry punishments not for the people who are told to set the stuff up. It needs punishment for the management who doesnt allow time to set things up properly
If management asks you to cut corners to ship the app, ask them to put it in writing. There's nothing wrong with iterating quickly, but developers are responsible for making sure their systems are secure and resisting shipping applications that aren't. It is a developer's responsibility to push back on shipping broken software. If they're forced to, they need to make sure there's a paper trail that shows that. Otherw…
The biggest unintended consequence I see is that more tech businesses will have to charge for their service rather than make money in opaque ways.
That's not a bad thing. The big tech companies are edging towards complete monopolies in their spaces and a significant part of this is that they know everything and they're allowed to leverage that data. Why would you go to anybody else to advertise? Unbundling this, making advertising harder again will spread out the budget, probably push more towards publishers rather than networks. Again, not a bad thing. It also…
EDIT: since people are downvoting this, I should clarify that I’m not advocating against the policy, it just doesn’t seem intuitive to me that this policy would reduce monopolization (data privacy may well be worth the tradeoff). If I’m wrong I’d love to be corrected!
Unintended consequences: This could make running a public Wifi hotspot a losing proposition for many businesses that operate one today.
Nope. The bill defines covered entities in Sec. 2.(5)(A) and 2.(5)(B). In particular, companies with less than $50,000,000 in gross receipts and information on fewer than 1,000,000 customers are not covered by this legislation. And even if those apply to your local coffee shop or whatever, Sec. 2(5)(B)(iii) further limits the definition of covered entity so that businesses that do not provide 3rd party access to info…
This would probably mean more compensation at executive level for the increased risks!
Companies will have a Chief Privacy Officer whose job is basically to provide oversight and, of course, absorb the risk. That person will probably be paid well. I'm actually OK with that. We're always complaining that companies don't take security/privacy seriously because there's no incentive to do so. See e.g. the Equifax HN threads. Having a person in the C suite who'll end up in jail if the company seriously fuck…
Earlier quoted context omitted.
I hear this a lot and have never had anyone explain what laws were broken by those executives.
Fraud. The ratings agencies lied about the credit worthiness of the mortgages that they bundled.
They published opinions about the future performance of certain securities. Those opinions were incorrect. Lying would mean misrepresenting the present state of those securities, which they didn’t do. Everyone know they were buying subprime mortgages. They just expected them to trade like prime mortgages.
EDIT: I clarified one thing user downandout pointed that it could apply to App developers who may have a million users as well but overall, it should not affect bootstrappers or smaller tech. businesses that don't have that high amount of consumer data so my overall point still remains.
Below is the link to the details on this bill:
https://www.wyden.senate.gov/news/press-releases/wyden-relea...
I read this and immediately thought "oh shit, yet another regulation for a small bootstrapped software business where we try to be honest while the big guys will still find a way to circumvent it". Thankfully, I looked into the fine print and was wrong. This bill is only for Corporations that do over $50,000,000 in revenues or higher OR (EDITED from AND) have info on at least 1,000,000 or more customers. Of course, I…