this post was submitted on 05 Jan 2024
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ChatGPT, summarize this for me like I'm a geriatric politician.
Personal data worth a lot. 8 billion humans exist. Industry is multi trillion of profit. Even at only a single trillion that's 1000 dollars per person a year. It's way more than 1000.
That would mean $8T total. No way it’s that much. Maybe $350 per American.
You're forgetting that many of the 8 billion people don't have internet or have very little data being shared.
If we assume 8 billion people and $1 trillion industry, it's only $125 a year. That's the worst case.
If we assume 4 billion people and $4 trillion industry, it's $1,000 a year. That's the best case. Perhaps a little too optimistic, but it's also very easy maths.
Working backwards from my $500 user value with 30% margin for the brokers, that's around $715 in the industry. This could be made from 6 billion people and an industry value of $4.29 trillion.
Using the method above, that would be $500 in the industry, and with 6 billion people the industry would be worth $3 trillion.
To get more accurate numbers we would need a specific value for the industry. However, I think we can confidently say the value of user data is in the hundreds of dollars, not pennies as is commonly suggested.
I only summarized what the other person said. Bring your complaints to him.
Some nations would be worth more per person to a data broker than others. How many billions have no Internet? How many have little money to spend on the companies the data broker sells to? Americans and Europeans would be at the top of the list, per capita, and could easily exceed $1000, and the total would just barely top 1 trillion.
I don’t know Google who makes all their money in data is a trillion dollar company. I’d say the industry is worth more then a trillion.
Wait is this account a bot that can be summoned with the magic incantation chatgpt?
Nah I'm a demon that can be summoned with the incantation of "Cat gee, be tea"
You must be incredibly busy. I hope the underworld pays overtime
Bad bot
And you are a bad human :)
Money good, gimme gimme.
Haha this made me chuckle. Thanks :)