Article by Erica Pandey: “Many young people are more willing than their parents to share personal data, giving companies deeper insight into their lives.
Why it matters: Selling data is becoming the new selling plasma.
Case in point: Generation Lab, a youth polling company, is launching a new product, Verb.AI, today — betting that buying this data is the future of polling.
- “We think corporations have extracted user data without fairly compensating people for their own data,” says Cyrus Beschloss, CEO of Generation Lab. “We think users should know exactly what data they’re giving us and should feel good about what they’re receiving in return.”
How it works: Generation Lab offers people cash — $50 or more per month, depending on use and other factors — to download a tracker onto their phones.
- The product takes about 90 seconds to download, and once it’s on your phone, it tracks things like what you browse, what you buy, which streaming apps you use — all anonymously. There are also things it doesn’t track, like activity on your bank account.
- Verb then uses that data to create a digital twin of you that lives in a central database and knows your preferences…(More)”.
