Their marketing seems sketchy to me. The tagline "Reclaim the profits ..." and words like "instead" are insinuating you'll get money for data that's already being sold and used by companies, but in reality you're just selling extra data. It's pretty obvious, but I don't like the angle they've chosen here.
@eindbaas Hey Stefan, it's true that using DataWallet won't simply shut down data the supply from other companies and make you the exclusive supplier of your own data. At least not immediately -- it's a huge industry and can only be changed step by step. However, it is the case that 'data buyers' have a certain budget which they set aside to purchase data. When you sell your own data (or in the case of DataWallet it's insights about your data), you can make data available that is off bounds for data brokers - e.g. your Likes on Facebook. This data offers vastly more valuable insights than the data that data brokers can offer (which is data that is either publicly available or licensed to them via 3rd party agreements), so it's in the interest of the 'data buyers' to buy it via you (through DataWallet). When a company decides to use DataWallet, and you get paid for your own data, you are effectively 'reclaiming' the profits made with your data, since the money for it was taken from a budget that would have otherwise been allocated to a different company that would have made these profits instead of you. What other ways do you think we could drive this concept across that would be less sketchy?
@serafinlion This explanation is heaps better than the landing page. But surely you can't really think it'll replace the other means of data collection by companies completely, do you? If people really want to sell their data: to each their own. I just think the current landing page is misleading.
@eindbaas To be honest, I don't just think that it'll replace other means of data collection, I'm convinced beyond the shadow of a doubt that it will. E.g. public data from Facebook only accounts for roughly 19% of all data you create. And that fraction encompasses mostly demographic dimensions such as your age and hometown. The really valuable insights lie in the 81% of the data that the companies currently sourcing your data cannot access. Data Brokers can never sell better data than you, meaning that when you bring your own data to the market, this will by definition always be the best data available. There's no need for marketers to buy anything anymore, but the data you make available yourself.
@_jacksmith well, to be really precise, it's not really "doing nothing". you can count on some kind of annoying ads / spam that will either cost you time or will trick you to pay the at least the money you got or even more.
Don't misunderstand me though, the idea and approach isn't bad, but i only see use for it for people who don't have another choice.
@thelambostory I've been using it for 18+ months as I said, and not had an annoying ads or spam or anything of that nature. Not sure how they'd be able to spam me anyway, as the person buying my data doesn't get my email address or mailing address as far as I'm aware.
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