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Home » The data industry is worth billions, How much did you get Paid for your data?

The data industry is worth billions, How much did you get Paid for your data?

Visual description that the data industry is worth billions

In today’s world, companies like Experian and Equifax make a fortune by using our online activity, purchases, and social media stuff to understand us better. They sell this info to other companies who use it for ads, deciding if we’re trustworthy for loans, and more. But guess what? We hardly get paid for it, if at all.

You see, your data is like gold to these companies. They rake in big bucks selling insights about us. But do we see any of that cash? Not really. The cool shoes you looked at online or the pizza you ordered last night—those actions become part of this valuable data puzzle, but you aren’t getting a paycheck for it.

Some studies say our data might be worth a few bucks or even a couple thousand dollars a year. But here’s the catch: that’s all in theory. In reality, you’re not seeing that money in your bank account. It’s like being a superstar in a game but not getting any prize money.

Sure, there are laws like GDPR in Europe or CCPA in California that give us more say over our data. Apple and Google even give us tools to manage our data better. But here’s the thing—they’re not cutting us a check for it. They’re just letting us peek behind the curtain.

So, what now?

Well, the whole idea of getting paid for our data is still up in the air. It’s super tricky because there’s no easy way to put a price tag on your Instagram likes or your Netflix watch history.

But maybe things could change. Maybe in the future, we’ll get a slice of the pie for our data. Until then, it’s a bit like being the unsung hero in a blockbuster movie—you play a huge part, but the real payday is going elsewhere.

So, while companies like Experian and Equifax keep cashing in on our data, us regular folks are left wondering when we’ll get a share of the jackpot. That’s the big question hanging in the air as our digital footprints keep growing.

U-Earn is dedicated to educating users about data usage. A series of informative articles are being released to demystify user data, providing clarity on how personal data is utilised and illustrating how U-Earn empowers users to take control of their information.

U-Earn stands at the forefront of a new era in personal data management, marking a significant shift in how consumers interact with and benefit from their digital footprint. The platform is now open for pre-registration, inviting users to be part of this exciting journey in reshaping the personal data landscape. For more information and to join the platform, send us a message.