Companies profit heavily from this data from "summary" of Data and Goliath by Bruce Schneier
The amount of data that companies collect on us is staggering. Every time we use a smartphone, browse the internet, walk through a store, or even drive a car, we are generating data. This data is valuable to companies because it allows them to better understand our behaviors, preferences, and habits. With this information, they can target us with personalized advertisements, tailor their products and services to meet our needs, and even predict our future behavior. Companies profit heavily from this data. They can sell it to other companies looking to target specific demographics, use it to improve their own products and services, or even manipulate us into making certain decisions. For example, a company might use data on our browsing history to show us ads for products we are likely to buy, or use data on our social media activity to influence our political beliefs. The more data companies collect on us, the more power they have over our lives. They can use this information to discriminate against us, manipulate us, or even invade our privacy. And because data is so valuable, there is a strong incentive for companies to collect as much of it as possible, often without our knowledge or consent. In the end, it is up to us to be aware of the data that companies are collecting on us and to take steps to protect our privacy. This might involve using privacy-enhancing technologies, being mindful of the information we share online, or supporting legislation that protects our data rights. By being informed and proactive, we can take back some control over our data and prevent companies from profiting too heavily from it.
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