A 55 Billion Dollar Gold Rush
The CCPA is pretty clear about the fact that businesses have to release customer data when requested and they must offer an opt-out to data selling. This applies to companies that make over $25 million in annual revenue, handle information for more than 50,000 people, or if that business earns more than half of their revenue for the selling of data. Basically it targets the big guns of data mining. This does, however, leave major companies to their own devices when it comes to implementing these changes. Big businesses are willing to spend an estimated $55 billion over the course of the next year on updating their policies and practices. This leaves a huge potential gold rush for startups to collect on and help establish protocols.
What this means for us consumers is that not every business will have the same procedure for opting out or requesting information. Not every company will have this done at the same time either. This will be a waiting game while we find out how they decide to go about the change. From what we can see now, many sites are adding a link at the bottom of a page that offers the opt-out or records request. Others include it in one of the drop-down menu items for a much easier find. I suppose the more valuable your information is to a company, the harder they’ll make it to opt-out. Curious, isn’t it?
Managing Your Privacy
From there you are redirected to a brief FAQ followed by the privacy notice in full– it’s a page-turner. At the very bottom, you will find a quite inconspicuous link to the final page where we can manage our privacy settings:
Once you click on the link, you’ll be redirected to a third-party partner (one of those start-ups cashing in on the $55 billion) and there you will see a few options to help you take control of your privacy.
When I first noticed privacy policies being updated all over the place I was a bit annoyed. All these websites and Apps with their pop-ups asking me to accept another Terms and Conditions page. Yet once I started looking into why, and what this all meant, I’m happy to say this is a small step in the right direction. Having control over your data will define our digital lives. There may be loopholes and impurities that companies could exploit and the future will tell a lot, but to have a bill that gives control back to the consumer… it’s more than unprecedented– it’s revolutionary.