The Social Network. Reimagined.

The treatment of personal data became mainstream when the General Data Protection Act (GDPR) came into force in 2018. Written into many countries’ laws, like the Data Protection Act (2018) in the UK, organisations that process personal data need to comply with these laws.

If something is free, then you are the product

Whilst the breadth of these laws is beyond the scope of this article, one of the key items to touch on, is the control that an individual has when it comes to the use of their personal data. This has probably been successful to varying degrees with larger and more reputable organisations – one would hope – complying.

However, it is not compliance that is annoying me right now. It is the massive monetisation of our personal data. Take any of the ‘free’ products or services available right now. If something is free, then it is most likely that you are the product. Take a look at Facebook. A pretty decent way to stay in touch with friends, buy and sell things, build communities, and post videos of cats. All for free. Or is it?

It is your personal data that allows Facebook to earn huge revenues. In 2020, Facebook earned $86 billion from a base of 2.6 billion active users. That is $33 per user for the year, or $11 per user, based on net profit. This is Facebook’s business…