Hard to imagine, but what if these behemoths of data went belly up? Sure, a few banks might fail, a few cities go bankrupt, perhaps even a few countries; a whole bunch of employees would be made redundant, and that vast treasure trove of data would be on the auction block.
It’s the data that I am concerned about. Between these three entities, all the information on me has been stored, mined, and exploited. They ran a fairly good privacy model while in business, but what if the new buyers at the auction are from Russia or China or North Korea or some Middle Eastern kingdom anxious to acquire western assets at bargain basement prices? I remember the time Yahoo was hacked and e-mails went from “me” to the whole world selling them Viagra, Costume Jewellery and asking them to click on links to spurious spyware. Luckily Yahoo, under its new management, decided to take sterner measures to protect its members’ privacy, two years later.
Data is the new gold, like oil once was. Knowledge is power. And we plebes gave up our power willingly in order to have free publicity and extend our reach to places we could never reach on our own for free, which in the past would have required lots of money for publicists and traditional media advertizing. If these guys go bust,
Armageddon will be nigh.
So what can we do? Here are a few options:
(a) Pray! That always works.
(b) Hope that western governments will declare these companies NATO assets in case of a stock meltdown, or declare them “Banks” (after all, they bank data) and add them to the “too big to fail” category of the economy.
(c) Buy shares in these companies, especially if and when their stock price tanks, in the hope of a rebound and the making of millionaires of all of us.
(d) Delete our data and go back to those days when no-one knew who or where the heck we were, and no-one really cared (we wonder if anyone really cares today, despite us keeping them posted of our every life event, meal, and bowel movement).
(e) Shrug and carry on as before, comforted by the premise that whoever gets their hands on our data will continue to make us famous or infamous, and both of these states will attract attention in these attention-deficit times.
(f) Build tighter spam filters for the barrage of nuisance e-mail that is bound to head our way.
(g) Get ready to lose all your friends and followers in social media when they have been inundated by spurious email from YOU.
Ah, well – it’s a good problem to ponder, or a scary nightmare to wake up from.