There was an interesting FT article today entitled “Tech’s fight for the upper hand on open data”.
Rana Foroohar’s article reminds me of a waggish comment that I recently heard (‘One day money will be almost as important as personal data’) in noting the widespread worry that if the tech giants of our day are “granted the authority to decide who gets to participate in the digital marketplace of ideas, then they could shun whoever they like, however they like.”
One of Symvan’s portfolio companies, Savy, is at the forefront in taking up the enormous challenges confronting the individual and this space promises to change dramatically in Europe in the prelude to the implementation of GDPR in May 2018.
Although writing from Silicon Valley, Foroohar more accurately captures the mood music in Europe with respect to the pressing issues surrounding personal data and its use. She notes that we need to think carefully about three things.
“First, the extent of information that we reveal and all the myriad ways in which it can be used. Second, whether the products and services we receive in exchange for our data are worth it, or whether the terms of the exchange should be reconsidered. And third, how governments may shift the rules of the new digital playing field, and what it will mean for capitalism in the 21st century.”
Having read the article, I asked the CEO of Savy, Oscar Vickerman, to pen a few thoughts on the issues that the FT article addresses. Enjoy.