Facebook, Google and other big tech companies have been under scrutiny more than ever in the past months. The tech giants have become so big and powerful that it’s reasonable to review their business practices in more detail. Everything that big tech companies know about their users could be used in harmful ways very easily.
A first step is to understand what Facebook and Google are doing and in light of the Cambridge Analytica, Brexit and Russian election-meddling scandals.
People had an opportunity to peek behind the scenes of big tech companies such as Facebook.
However, this unique opportunity was somewhat wasted. Listening to the elected representatives in the US and I have no doubt it’s similar in other countries, it’s incredible how tech un-savvy many are who are shaping our laws and regulations. Today, I want to focus and help every reader understand what it is that Facebook, Google and all tech big companies really know about us.
Data Is The New Oil
It’s an almost dusty catchphrase but it is true that data is the new oil. The metaphor is very accurate. If you take it one step further. Why is oil so valuable? Why do we value this black liquid that’s pumped out from the lower layers of the earth so much?
The answer to this is fairly simple. It’s what you can do with oil that makes it valuable.
Nobody cares about the black liquid, but people care about being able to stick a nozzle in the rear of their car, pump in some gas and ride to whatever place they please. That is freedom and that’s one thing that makes oil so valuable.
How about plastics, all the little toys, medical equipment and countless other things that we rely on. Plastics are in-part produced using oil. That’s what we need oil for. It delivers an outcome for us.
Now, how does that relate to data?
Why Data Is So Much Better Than Oil?
Data on its own is not really useful but it forms the basis of so many extremely useful things. Have you heard Mark Zuckerberg speak at the Senate meeting a few months ago? Have a look at this video and let that sink in exactly.
What I want to point out is how Zuckerberg very clearly frames the question about what data Facebook users can delete. It’s the data that they put on Facebook. It’s the pictures, check-ins, likes, shares and all of that. But there is so much more to it.