Re:US proposes barring tech companies from offering financia...
by salawat on Thursday July 25, 2019 @01:46PM
(#20527616)
The problem is no company wants that as they would essentially be required to publicly reveal their entire web of business partners, which is generally closely guarded as a source of competitive advantage.
This is the Great Asymmetry, as it were. They want to be able to invade your privacy and capitalize on your information, but will raise all Hell against being forced to reveal anything that could give anyone else a leg up on them.
Until this is reconciled via either a return to a non-invasive business environment, I.e. companies collect only enough state to do business with you, and the norm is not to data share, or companies are forced to explicitly reveal who they are doing business with in order to get explicit permission, abusive data harvesting/sharing will win the day.
This is the Great Asymmetry, as it were. They want to be able to invade your privacy and capitalize on your information, but will raise all Hell against being forced to reveal anything that could give anyone else a leg up on them.
Until this is reconciled via either a return to a non-invasive business environment, I.e. companies collect only enough state to do business with you, and the norm is not to data share, or companies are forced to explicitly reveal who they are doing business with in order to get explicit permission, abusive data harvesting/sharing will win the day.