There were some interesting news today where for the company Facebook may encounter a situation where they will be blocked from transfer data in Ireland to other places such as the US. While this most likely stems from security reason, data is big business for a lot of companies that offer its products and services for free. For example, with data about one’s habit this can be sold to companies where they will be able to target people who are highly likely to make purchases through them.
It makes you wonder though with more consumers becoming conscious about their data and privacy online will this business model not be as desirable? For example, I remember how there was an exodus of sort from the Facebook owned app Whatsapp as everyone jumped to Signal due to security reasons after learning the company would share information with other Facebook apps.
So the concern is definitely there nowadays. It won’t ever completely disappear I would imagine. But I wonder how companies would adjust their business model if data was traditionally their main revenue stream.