So Why Only Here?
The Market Ticker - Commentary on The Capital Markets
2017-07-16 07:00 by Karl Denninger
in Technology , 188 references Ignore this thread
So Why Only Here?
[Comments enabled]  

What the hell is this garbage?

Lawmakers in almost two dozen state capitols are considering ways to bolster consumer privacy protections rolled back with Trump’s signature in April. The proposals being debated from New York to California would limit how AT&T Inc., Verizon Communications Inc. and Comcast Corp. use subscribers’ data.

Ok, as far as it goes.

Now why doesn't it apply to companies like Facebook considering they are based in California?

See how simple that was?

As I've pointed out the real problem is out-of-scope data use.  Nobody expects their ISP to track their web surfing and sell it to health insurance companies.  But they might do that.

Ditto on your Facebook views.

Nobody gets all cranked off about advertisers using your preferences to bring you "better ads."

The problem is that "better ads" doesn't mean discriminating for (or against) you in buying health insurance, or rating you when you buy a homeowner's or auto policy, or for that matter screwing you on price based on the fact that you just drove past a WalMart and thus won't duck in and buy whatever it is there instead!

That is where the problem lies.

It's not using collected data for its intended purpose and on the terms you were given and with the choice to not participate.

It's using it for other reasons, including building a detailed dossier on who you are, where you go to church, what your job and income look like, who your friends are, whether you spend an hour a day in a bar and more.  It's the lie that the data collection is not tied to you personally and on an identifiable basis when it very clearly is.  It's the outrageous second-by-second record-keeping that both Android and IOS do with "location" and the sale of that data to anyone who shows up with a wad of money, along with the same collection of said data by mobile phone companies over which you have no control.  In short it's the inability to say no by inherently tying that collection and out-of-scope use to things that have become essential for modern life, such as (for example) Internet access when you have a kid in the house and part of their homework requires access to the Internet, inherent storage and sale of data by cellular and cable providers and more.

Do not be deceived -- these so-called "state actions" are both incomplete and discriminatory.  Proof of this is that California, which is one of the states involved, is not targeting Zucker****er for the very same level of enforcement.

View with responses (opens new window)
 
Main Navigation
MUST-READ Selection:
A One-Sentence Bill To Force The Health-Care Issue

Full-Text Search & Archives
Archive Access

Legal Disclaimer

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.

NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.

The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.

Market charts, when present, used with permission of TD Ameritrade/ThinkOrSwim Inc. Neither TD Ameritrade or ThinkOrSwim have reviewed, approved or disapproved any content herein.

The Market Ticker content may be sent unmodified to lawmakers via print or electronic means or excerpted online for non-commercial purposes provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media, to republish full articles, or for any commercial use (which includes any site where advertising is displayed.)

Submissions or tips on matters of economic or political interest may be sent "over the transom" to The Editor at any time. To be considered for publication your submission must include full and correct contact information and be related to an economic or political matter of the day. All submissions become the property of The Market Ticker.