Earning of Google and Facebook
Google and Facebook, in exchange for being free services, use all your data to make money.
Here is we explain the earning of Google and Facebook?
For example, Google sells your visiting preferences for advertisers to direct you to ads related to products you’ve seen, or they also suggest searches based on your geographic location.
Soon, large technology companies may be required to tell us how much each of our accounts is worth.
The United States will make a GDPR in its own way
The big technology companies have been using our data for two decades unilaterally and without users being able to decide if they want that to be the case.
Among these data is our location, preferences, marital status, statistics of use of apps, history of visits, age, gender, lifestyle, etc. They know us even better than we do ourselves.
The purpose of this bill is to make users understand what they are sacrificing when they accept the conditions of use of these services.
The law will oblige companies with more than 100 million monthly active users to show what data they collect from users, how they use them, and to offer an estimate of the value of these data every 90 days.
Total value of user data
In addition, they will have to publish the total value of user data in an annual report, in which contracts will be gathered with third parties, how those revenues have been generated, and what measures have been taken to protect the data.
All this must be associated with a button that allows users to delete all or a large part of their data from the databases of these services. A kind of RGPD, but to the American.
How much do Google and Facebook earn with our data?
It is not known exactly how much they earn with each account, but the estimates range from 5 to 20 dollars per month, which is equivalent to 60 or 240 dollars a year.
The technologists, however, have refused on many occasions to give specific data on how they collect the data and how they monetize them.
In addition, it is very difficult to calculate the value of these data, since they are used in dozens of services with different types of business.
Thus, the only figure that can be used to evaluate the report will basically be how much money has been paid related to these services.
The senators argue that companies know very well what they are worth, not only their data, but those of their competitors.
For example, those estimated figures they handle are those used to make purchase offers, with which Facebook did WhatsApp for 16,000 million dollars, where the messaging app had at that time with about 500 million users, throwing a value of $ 32 per user.
If we divide the value of each company among its users, the data of each user of Facebook would be worth about $ 225.
In addition to this legislation, within a few weeks of proposing another law for technology companies to port the data from one platform to another.