by Karl Denninger, Market Ticker:
I have been prodded by readers over email to write on this for the last few days (while I’d been out hiking on the AT, incidentally — guess how much I give a crap about “technology” and “tracking” while out there having a nice walk in the woods with only the bees and bears for company?) But, since people keep asking, here it is:
My one-word summary: Meh.
Somewhat more-lengthy summary:
Want a bit more detail? Ok, if you’re too dense to be unable to do understand the above two.
There is nothing in there that surprises me or is news.
In fact, if you’ve read this column for any length of time at all you are well-aware that I’ve highlighted these very “vulnerabilities” on dozens of occasions. I put the word “vulnerabilities” in quotes for a reason: You don’t care, and neither does anyone else or devices like “Smart TVs” would not have one person using them, “Alexa” would have never sold a single unit and the various fruity things would not have nearly 50% market share in the United States. Facefart would be a zero — literally — as would LinkedIn and SNAP would have failed to price their IPO.
The manifest weight of the evidence is that the American people do not care that they are product. They do not care that the very fact that they are on Facebook causes all sorts of data to be associated with them personally by name and then sold to anyone who cares to buy.
This probably includes people with nefarious intent; as I have pointed out before on these very pages if you were a terrorist and wanted to target, oh, say, military members, or police officers it would be trivial to determine with a very high degree of certainty who those people are and exactly where they live by buying said data sets and correlating them, and it would not be difficult or expensive to do it either. That would make your intended evil deed quite easy to carry out.
It’s a damn good thing there really aren’t that many terrorists out there who can put together cells totaling a few hundred people inside the US and who don’t care if they get “caught” (because they’re prepared to die for their cause) or we’d have a really severe and immediate problem. A problem, I remind you, that you have each individually created by using these “services”, by believing “free and always will be” means what it says and more.
But I do know with utter certainty what we do have in this country and the evidence for it is clear, convincing and without question: A bunch of companies that have, will and do buy the very same data, run the very same correlation analysis and then use that data to screw you up the butt on a daily basis costing you thousands of dollars a year you would not and should not be spending otherwise.
How do we know that’s absolutely true? Because if it wasn’t then Facesucker and other “social media” firms would not exist as exactly zero of them could generate any meaningful amount of revenue.
Someone’s paying the bill that makes same possible and the “someone” is you. If you think you’re not you’re certifiably insane.
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