Why we should end the data economy

"Burn it all down" as a solution — inevitably applied to cultures, systems or industries viewed from the outside — is also a plague of laziness.

Anyone engaged in the collection and sale of data should be required to maintain a list of their customers. Upon the sale of data, the customer should be required to provide their list to the broker. At the point of collection/consent, the list should be made available to the consumer.

For example: You want to vote in an online poll by company A. Company A collects data about you and sells it, so you must agree to their privacy policy. Company A's privacy policy discloses that they sell your data to Companies B, C and D. Companies B, C and D have provided a list of its customers to Company A, and Company A includes those lists as well. In addition, the customers of those companies provide lists (as all data brokers would be required to do).

If its seems like it could get overly complicated with huge lists of data brokers for a simple online poll, that's the idea. You shouldn't have to wonder how many entities you're giving access to your information when, for example, you want to vote for MLB All-stars. MLB wants your name, address, email, phone number, and they disclose they'll "share it with partners" but they don't say who those partners are, how many exist, and if they have their own "partners". Vote for your favorite player and you could be getting a phone call for life insurance 15 minutes later after your number has been passed through 5 different companies.

Does anybody know if targeted ads based on tracking even work? Are they worth all the extra cost and complexity compared to traditional ads? It doesn’t seem like it. Half the time I see a super-targeted ad, it’s for a product I already purchased.

Also, what ever happened to showing ads to people who aren’t already interested in your product to expand your brand and maybe bring in new customers? The current ad model feels overfitted to me.

People should own the data about them, and should be free to rent or trade usage of it to companies in exchange for money or services. Actual ownership should continue to rest with the person, however, who can revoke access the same way that a landlord can evict tenants or a worker can quit.

The biggest barrier to this has been that lots of valuable data (eg. Facebook's social graph, Android contact data) is data about relationships between people, not the people themselves, and so would logically have multiple owners. But that's not really a big barrier with modern technology: the crypto world solved multi-person ownership with multisig wallets several years ago.