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Ultimately, it's a difference of opinion and social influences. It got an article click anyway, so mission accomplished for Bloomberg.
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First of all, that's rude.
Second, if they have a $75b valuation and no profit plan, that's not likely a good sign. I doubt China's P2P and venture capital markets are related, but I'd bet they gave a high valuation just to grab headlines. Also, it'll eventually get censored like everything else in China, so 'doing better than Baidu' is probably temporary.
"Right, I'm smart enough to realize that Amazon will crush us, and I can't outsmart Bezos, so why not enrich myself, say fuck the world, and go retire with a cool billion?"
I just genuinely don’t understand how if someone gives personal consent to use their provided data in a specific way, then the company is still acting immorally.
Society has moved forward over the last few decades in favor of people using their body however they like as long as consent is given and no one is hurt, so why is it not the same with information? Why is personal consent to use my information not enough, to the point where we want to force companies into a payment/subscription/no targeted ads model that may not actually work for their business?
1) Do you have to repeat consent every time the ToS or another policy changes?
2) What about repeating consent every time there is a feature change?
3) Should your consent remain after controversial events involving security (FB using 2FA phone #'s for ads; data breaches like Equifax)?
4) What about internal company changes like leadership changes at the executive level?
Unlike consent involving intimacy, there is no big red line where it clearly becomes non-consensual. You can technically delete all of the data, but no one has built something that does that and is trusted. There isn't a right-to-be-forgotten law in every country, so archiving sites can still retain this information anyway.
Plus, it could always be on some flash drive that a malicious employee passed to other companies. Large companies like Facebook have pockets where people can essentially operate with impunity or oversight for periods of time. The core issue here is that consent to one site proxies affirmative consent to share your information out to other sites.
As a hypothetical, would you give consent to Facebook knowing that they will then share all of that information with anyone who asks (every site, every 3-letter agency, every stranger from anywhere in the world who likes your bikini pictures)?
What if they say they won't share that information, but they do anyway? Tech companies move too fast for law to keep up, and once the information is duplicated to multiple parties, it's almost impossible to track down every copy with certainty.
I am really passionate about the information collection system I work on. I do my best to ensure data isn't leaked, everything is secure and encrypted. If you would like to offer a solution to the fact that the vast majority of people in this country now expect software to be free (save, some AAA video game titles), I am all ears. Until then, I am going to be passionate about what I do, but realistic as well as I have a family to provide for.
Subscriptions? I pay for Netflix, Amazon Prime, Github, MS Office, a VPN, and probably a few others.
If you're B2B, use price per user/customer/developer? e.g. Highcharts was worth the money vs. free options.
The problem is there's no guarantee you don't also collect info or decide to play ads even if I pay for a subscription.