Passive Income? New Start-Up Would Pay you to Share Personal Data

[Davidvictorson]

The startup, Caden Inc., operates an app by the same name that helps users download their data from apps and services—whether that’s Amazon.com Inc. or Airbnb Inc. —into a personal “vault.” Users who consent to share that data for advertising purposes can earn a cut of the revenue that the app generates from it. They also can access personal analytics based on that data. The idea of giving consumers a cut of whatever brands might pay to reach them isn’t new, but it has been reinvigorated as outside companies have found it harder to harvest and share so-called third-party data. The digital ad industry has been seeking new sources of the consumer data that guides online marketing efforts as traditional tracking techniques have come under pressure. A new Apple policy last year requires apps to ask permission to track users, for example, permission that many people have declined to give.

Would you share personal your data to an ad company for a pay? The data will be used for advertising purposes where you can earn a cut of the revenue that the app generates from it. This data would include- what you buy or watch on your mobile device. For instance, a user could consent to sharing his ride-share history so advertisers could create segments of people who ride a certain amount. That would eventually pay consumers up to $50 a month. Can you do it? Could this be considered as a passive income?

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[Charles-Tim]

The world was safer before than today, google and those big giant companies came and they harbour scam and making privacy to be the thing of the past, this is where the world is graduating to, where no privacy again. I think they are making it more easier for scammers to illicit their work and no more privacy as many people will will go for money instead of their privacy and safety.

[Anonylz]

It is a free world, people will do whatever will benefit them. It all depends on individual,  your data is your personal responsibility to protect and secure without sharing such information with other persons,  but some people because of one economic situation or the other may lead them to take certain decisions.
Personally I won't do that irrespective of the amount (hopefully the amount is not worth the risk) to be paid. O don't want my data falling into the wrong hands.

[lionheart78]

Anything that can give us a continuous stream of income without doing a repetitive job is considered a passive income.  People shares their moments on FB and other social media, so I do not think an issue for them to share some of their personal data that will generate income.  It doesn't share your bank account and address anyway.  Those FB users already exposed their identity so I think there is nothing to be concerned about the apps as long as it is legitimate. 

I am talking about people who are very public on social media but  I won't do it.    I won't sell my privacy for a mere $50 a month besides, I can still provide my family with a decent lifestyle and I am not desperate at this moment to sell my privacy for a mere $50 a month (this won't even suffice for single person's 1month meal).

[Ultegra134]

I remember seeing something similar a few months ago, unless I'm mistaken. On the one hand, it's not a significant amount of money, but on the other hand, aren't huge companies like Google already using our personal data for advertising and other purposes, basically with our consent, without receiving a single penny from them? If you think of it that way, I don't see how it's bad to receive a small amount of money per month for data that we already provide to huge corporations for free. The ideal would be to have a way to avoid the oversharing of our personal data and digital footprint, but it's inevitable in this day and age.

[Lanatsa]

Anything that can give us a continuous stream of income without doing a repetitive job is considered a passive income.  People shares their moments on FB and other social media, so I do not think an issue for them to share some of their personal data that will generate income.  It doesn't share your bank account and address anyway.  Those FB users already exposed their identity so I think there is nothing to be concerned about the apps as long as it is legitimate. 

I am talking about people who are very public on social media but  I won't do it.    I won't sell my privacy for a mere $50 a month besides, I can still provide my family with a decent lifestyle and I am not desperate at this moment to sell my privacy for a mere $50 a month (this won't even suffice for single person's 1month meal).

Wont really that ideal nor really that worth for 50 bucks a month even if its passive but its something that you cant just easily share up or giving access on what you do browse or something like that.

Even if we are living on a high-tech era where everything is almost exposed specially on socmed but there are things which arent really supposed to be share up.I cant just take off the risk
just for that amount but if we are talking with some 4 digit or 3 digit then i might be having some reconsideration but for 50 bucks then
it isnt really just worth.

[blockman]

Would you share personal your data to an ad company for a pay?

We're even using social media platforms that don't pay us for our data. The services are free, therefore, we're their product.

[Gyfts]

Most companies will store user data and sell it to advertisers regardless of consumer consent. I suppose this is better than nothing but I'm concerned that most people would sacrifice their privacy for nothing at all. It makes these entities very powerful.

I remember seeing something similar a few months ago, unless I'm mistaken. On the one hand, it's not a significant amount of money, but on the other hand, aren't huge companies like Google already using our personal data for advertising and other purposes, basically with our consent, without receiving a single penny from them? If you think of it that way, I don't see how it's bad to receive a small amount of money per month for data that we already provide to huge corporations for free. The ideal would be to have a way to avoid the oversharing of our personal data and digital footprint, but it's inevitable in this day and age.

General rule of thumb is that if a product is free, then you are the product. Google and all of the social media platforms gladly store personal analytics and sell it to advertisers. The real question is who are the bidders? Give this data to predatory actors and then it becomes a large issue.

[Ultegra134]

Most companies will store user data and sell it to advertisers regardless of consumer consent. I suppose this is better than nothing but I'm concerned that most people would sacrifice their privacy for nothing at all. It makes these entities very powerful.

I remember seeing something similar a few months ago, unless I'm mistaken. On the one hand, it's not a significant amount of money, but on the other hand, aren't huge companies like Google already using our personal data for advertising and other purposes, basically with our consent, without receiving a single penny from them? If you think of it that way, I don't see how it's bad to receive a small amount of money per month for data that we already provide to huge corporations for free. The ideal would be to have a way to avoid the oversharing of our personal data and digital footprint, but it's inevitable in this day and age.

General rule of thumb is that if a product is free, then you are the product. Google and all of the social media platforms gladly store personal analytics and sell it to advertisers. The real question is who are the bidders? Give this data to predatory actors and then it becomes a large issue.

Aren't we all sacrificing our privacy every single day we're on the internet? How many times have you browsed a website and then seen ads relevant to what you were searching for earlier? Advertisers are paying tremendous amounts of money to reach consumers, and we're willingly providing them with our personal information, free of charge. I'm not supporting the featured start-up company, but I'm mostly mentioning that it's something we already provide to huge corporations for free. Making a few bucks for something we already do doesn't sound too bad. However, I understand your concern that people would be willing to sell themselves for a few dollars.

[dothebeats]

Can't see anything wrong with this. At the end of the day you are gaining something passively. People are already getting their information used by a lot of companies, and those information are the same as this one, so what difference does it do if I sold these information to another company? At least this one asked for my consent, and is constantly paying me monthly with beer money so long as I keep providing the same information that they need.

With how our information is handled, I'd rather sell mine than give it away for free without me knowing how they obtain these and how they are using it.

[bitbollo]

in theory I could also provide this personal data but I don't use any of these services (amazon or airbnb)...
or I could always use them through another person (relative / friend) to maintain a certain degree of anonymity.
more or less there is duckduckgo or TOR to avoid any issue...

there are similar apps such as woolsocks created ad hoc to receive consumption information (that provide a small revenue like cashback or discounts). but in the end most of big companies manage to obtain commercial details through cookies.

[uneng]

Isn't intelligence service of USA doing this since a long time ago without paying us anything, as Edward Snowden revealed? Well, I see no problem in earning 50$ extra bucks every month for something that is already happening behind the curtains. I think we don't have a choice, anyway. Even if you don't give your consent, it doesn't prevent you from being watched. It's happening all the time on the internet as you surf websites and watch videos. But if none of these intrusions existed and if we really had an alternative, I would prefer to not earn anything and to not be monitored.

[Hydrogen]

I think the average payout for information sharing apps would be far less than $50. From a financial and monetary perspective, it will not be worth participating in for most.

Back in the AOL internet era, there were browser tracking apps that paid out $100 per week or month (I don't remember which it was) for the same type of info.

[jackg]

Far to many people click i agree to cookies for this to be something too achievable. I'd like the idea of being able to list a few things I'm interested in (when I'm interested in them) to receive ads tailored to that (and also monetary compensation or a discount on the products). A lot of ai and big data can still miss that, they're trained on averages, they might be successful for the highest amount they can be now but I think they could be improved - especially since some recommender algorithms can recommend things people would have no interest in because they've had no interest in soentbibg else iirc.

[paxmao]

We are anyway sharing the data for free, so I guess sharing it for profit is conceptually ok. However, the personal data of most individuals is simply useless or not worth more than a few cents. There is no way you will make passive income worth you while by selling just your personal data, unless you happen to be an influencer, very rich or somehow worth more attention than the average Joe.

[avikz]

We all are sharing our data anyway! Google and Facebook knows it all! They have built billion dollar enterprises based on our data. For example, If you have ever used Facebook advertisement, you will be amazed to see the depth of targetting you can do. That's all based on our data which we are giving away for free of cost. So if we can make some extra bucks out of our data, why not! Especially when we are not involved with any illegal activities, there's no risk as well.

[bittraffic]

We all are sharing our data anyway! Google and Facebook knows it all! They have built billion dollar enterprises based on our data. For example, If you have ever used Facebook advertisement, you will be amazed to see the depth of targetting you can do. That's all based on our data which we are giving away for free of cost. So if we can make some extra bucks out of our data, why not! Especially when we are not involved with any illegal activities, there's no risk as well.

That's true. It's why you should just monetize it as well. The negative side however is yet to come.

This revenue sharing from the app they make is not a new idea anymore there had been many crypto projects attempting like with thier browsers like Brave Browser (BAT). Besides collecting your browsing and buying habits, they also ask for KYC like it's not enough. Sooner these guys may ask for thier Security ID.

[Poker Player]

I don't know, the news is strange to me and I have tried to access it but in order to read it you have to be a subscriber, to have a paid subscription.

On the one hand, I think if it was something that intruded on my privacy, I wouldn't sell it for $50, but on the other hand, as paxmao and avikz comment, we are sharing data anyway.

I imagine that this company has an idea of monetizing that shared data that they don't have access to, because even if google has it that company does not.

[BigBos]

This might be interesting, it can add income every month by providing personal data, so what happens is every time we access the web or applications that are connected to the internet we will get advertisements from partnered applications or websites. On the other hand, it is profitable if you really get income, on the other hand, activities using cell phones will be monitored and of course, there is no privacy in terms of understanding. But here it will be dangerous if our personal data is leaked and used at will to do bad things because in fact personal data can be traded and even made into a crime.

[mk4]

This is something I'd personally only do if I'm struggling and in dire need of money. I'd imagine most of their customers would be people in poorer countries.