If the government regulates Facebook, the regulations will apply to every data-collecting entity that does business in the United States. With over 2 billion registered users, Facebook would own the largest data set reflecting user aspiration. Aspiration is a valuable currency that can be transformed into cash. Advertisers want to know what you aspire to, and you give that information to Facebook with every item (bit of data) you post, what you click on, read and consume on the platform.

Google would own the largest data set reflecting user intention. You don’t intend to go to Google; you go to Google and tell it what you intend to do. Google has transformed the currency of intention into over $100 billion of annual revenue.

To round out FANG (Facebook, Amazon, Netflix, and Google), Netflix would own the largest data set reflecting user passions, and Amazon would own the largest data set reflecting user consumption.

Tight regulation restricting the sharing of data outside these companies would create government-granted data monopolies on the four biggest data-driven currencies: aspiration, intention, passion, and consumption. Advertisers, sponsors, and content providers would have zero bargaining power against these data sets. Regulation would kick traditional media while it is down and would empower giant tech companies to rule the world.

Sourced through Scoop.it from: www.shellypalmer.com