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Picture this:
- You type on Google “laptop won’t turn on”
- Google now knows you have a broken laptop and can estimate how desperate you are to fix it.
- Because it knows how desperate you are, it can increase shop prices proportionally.
You are going to pay the maximum they get you to pay.
That’s algorithmic pricing.
The more companies know about you, the more they can predict and sell how desperate you are to other stores out there.
An internet-connected car knows much more about you than you realize. A smart TV also knows what you like. Your Alexa knows if there is a problem in the home.
Privacy is much more than just sensitive data.
It’s about not giving leverage away.
Because algorithms will use it against you.
Be safe out there.
Only tech savvy people figure out how to go around this system. Roughly 80% ~ 90% of consumers will not realize what’s happening or won’t bother figuring out a solution.
Hell, even if only 10% of the consumers paid a slightly higher price the company still earns more by buying your data.
Statistics are on the side of the company. Buying consumer data is always the best strategy for them. The only thing that can limit abuse of privacy and consumer rights is government regulation.