US Bill To Force Tech Giants To Tell Users How Much Their Data is Worth

Two US senators have proposed a bill in Congress to force tech companies to disclose what data they collect about their users and how it is being leveraged by the platform for profit. From a report: Named the Designing Accounting Safeguards to Help Broaden Oversight And Regulations on Data (DASHBOARD) Act, the bill was proposed by Senators Mark Warner (D-Va.) and Josh Hawley (R-Mo.). The bill's targets are all tech companies with over 100 million monthly active users that collect data about their users. Per the bill's text, tech giants will have to inform both end users and US regulators about the precise information they are collecting about users, and if and how they're monetizing it for their own profit. In addition, the companies will also have to "regularly" inform users about how much their data is worth.

Re:

[cayenne8]

How about they also put into the bill, a clause that compels the companies to PAY the users for the use of their information if they opt-in to allowing their information to be used for said commercial purposes?

A user divided so to speak?

Re:

[BringsApples]

Or the users could stop giving their data away for free.

Re: How much their data is worth

[Rujiel]

Wow, pretty ignorant response considering no one opts into their internet histories being sold. But that's exactly what ISPs are doing. Some free market, tell me again how it's all the fault of the consumer?

Re:

[arglebargle_xiv]

Be better if they passed the Filibuster Unlimited Crabs Kingfish Fillet Abalone Centaur Executive Bible Orange Or Kale act. Also, is there a special government department that comes up with these silly acronyms?

Dup Dup

[xxxJonBoyxxx]

It looks like msmash and beau aren't even talking over coffee in the morning anymore. Sniff.

Comment removed

[account_deleted]

Comment removed based on user account deletion

Re:

[Impy the Impiuos Imp]

You want to sell off to advertisers additional knowledge of you so they can make a statistical argument you are a little more likely to buy their product?

Excellent. Now I can negotiate payment to me...

[Glasswire]

.. for the right ot use and restrictions on who may get it.

Don't forget, once you have the value

[bobstreo]

to have your lawyer instruct the court to also add punitive damages and payment of your legal fees to your settlement/award...

Databrokers will love this.

[mrwireless]

I wonder how this will be calculated, since databrokers will claim there are two types of data: "your data", and "their data".

For example, your GPS track is yours. But the inference that you are 'most likely an active outdoorsman', which is deduced by their algorithms, they will claim is 'theirs'. In the US they will even say this falls under their 'corporate freedom of expression'.

So the question is: what data will be given a price here? The raw data you provide, or the inferred scores made by the algorithms of the databrokers/Facebooks/etc?

This matters a lot, because your raw data is almost never sold. What is sold is that second type of data, that prediction/inference/deduction/opinion.

Looking at it from a broader perspective, this initiative already accepts the framing that data and privacy are commodities with a price. But as the old MasterCard advertisement used to say: privacy is priceless.

Deja Vous

[argStyopa]

It's almost like this is already covered TODAY only like 5 stories down.
https://yro.slashdot.org/story... [slashdot.org]

Are there really any editors at /.?

Facebook: "Your data is worth..."

[magusxxx]

"...exactly the amount it would have cost you to pay for our service for the year. Shall we just call it even?"

Re:

[Opportunist]

Sure. I get fake money data, you get fake personal data, I think we're both good.

Three Words

[DigiWood]

Not. Gonna. Happen.

Monetisation != Worth

[nukenerd]

Whatever they sell my data for, it's worth nothing or a negative amount. Probably negative, as mostly it will be under a false name, and I react badly to any ads supposedly targeted at me (not hard as they are off-target anyway).

Discuss.

Re:

[Opportunist]

Hush! Don't endanger my business model just before it finally starts to take off!

Josh Hawley

[cwatts]

That Josh Hawley, one of the bill's sponsors, is a rising republican star. He's a dangerous misguided fool and he's gonna cause us all a lot of trouble. (and by 'us' I mean humanity)

cw

hmmm

[marcinwasilewski]

Sounds good. But there is always a second bottom.