Name: Insights: Personal Data Ownership Should Be Aligned with Public Purpose
Uploaded: 2020-03-11
Duration: 3 min 14 s
Description: Jennifer Zhu Scott, Founding Principal of Radian Partners, and Lei Chen, CEO of XunLei, discuss how technology and data regulation can be used for the public good. (November 2018)

[MUSIC PLAYING] JENNIFER ZHU SCOTT: They brought up a very important question, a point, which is the point I feel very passionate about, which is data ownership. If you think about all the mess Facebook got himself into, with the Cambrige Analytic centralized the data ownership. And the European, EU's response is let's regulate. By regulation, basically, you have to have a broad brush with no consideration of a nuance. However, privacy is a very nuanced issue. What's private to me, compared to what's private to you is very different. And also if you think about ownership, the full ownership in the legal term, you really have to be able to hold it, sell it, and the price you prefer, gift it, or destroy it. And that's a full ownership. So when the regulators say data ownership is supposed to be individual, then what? I can't do anything with that. So one thing quite a few startups were supporting, they started looking to how to use blockchain to give that pricing power back to individual. And I think that's going to be a multibillion dollar business opportunity. Will Google and Facebook fight it? Of course. But if you pay attention to-- I was alluding to this yesterday-- pay attention to what Tim Cook's been saying, pay attention to what some of the brightest of tech leaders saying, I think that inflection point is already here in terms of how we going to manage this data ownership. And I think also this conference is so much about AI. And one point we're not touching on is UBI, universal basic income. How do we approach universal basic icome? This is a very heated debate. I actually debate about UBI, against UBI, in Oxford Union, not because I don't support that individual people, if they don't get a job, they shouldn't be helped, but because I don't think there will be a sensible economic model for governments to produce UBI. However, if we give the pricing power to individual, and in the AI economy, where data is really the fuel of AI economy, then selling data is potential income source for UBI. LEI CHEN: I add a couple of color to this topic. SPEAKER: Please. LEI CHEN: According to Pew, 91% of Americans believe that they don't-- they have lost control of their data. And there was an article a few days ago written by Ash Carter, the former Secretary of Defense, saying that technology need to be aligned with a public purpose. I think that's very true to our technologists. Without a real public purpose, I think there will be less enthusiasm, from me at least, to push the envelope. But together, with the same purpose, I think the industry will eventually grow and flourish. [CHIME]

Insights: Personal Data Ownership Should Be Aligned with Public Purpose

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How technology and data regulation can be used for good. 

Data Ownership Should Be Aligned with Public Purpose

Jennifer Zhu Scott, Founding Principal of Radian Partners, and Lei Chen, CEO of XunLei, discuss how technology and data regulation can be used for the public good. (November 2018)

WeII brought up a very important question, you know, point, which is the point I feel very passionate about, which is data ownership. If you think about all the mess you know Facebook got himself into with the Cambridge Emily and Electric Eyes Central s data ownership and the Europeans used responses. Okay, let's regulate regulation. Basically, you have to have a broad brush with no consideration of in nuance. However, privacy is a very nuanced issue. What's private to me? Come here to what's private use very different. So the and also, if you think about ownership, the full ownership in the legal term, you really have to be able to hold it. Sellers and the price you prefer, gifted or destroy it not a full ownership. So when the regulators say OK, data own, you know, ownership, supposed to be individuals. Know what? I can do anything with that right? They're wanting a lot of quite a few, Um uh, startups with supporting that starts looking thio how to use a blotch and to give the pricing power back to individual. And I think that's going to be multi $1,000,000,000 business opportunity. Will Google and Facebook fight it off course. But if you pay attention to, you know, I was alluding into this yesterday. Listen, Ginger. What Tim Cook being saying? Pay attention to what? You know, some of the brightest, the attack leaders saying I think the inflection point is already here in terms of how we gonna manage this data ownership. And I think also this conference so much about a I and one point we're not touching on is the FBI, Universal basic income. You know, how do we approach universal basic income is very debate, actually debate about you via against u B I in Oxford Union. Not because I don't support that individual people. If they don't get a job, they shouldn't be helped. But because I don't think there will be a sensible economic model for government to produce you, be I. However, if we give the pricing power to individual and in the aye aye economy, where data is really the fuel off economy, then selling data is potential income. All sorts for you, B I I had a couple of color to this topic. According to Pew, 91% of the markings believe that they don't have lost control of their data. And, uh, there was an article a few days ago returned by Ash Carter, the former secretary of defense, and saying that technology need to be a line that was a public purpose. I think that very true to our technologies without, ah real public purpose, I think there will be less into this from me at least to push the envelope. But, uh, together with the with the same purpose, I think the industry will eventually grow on the flattery.