Leave it to customers to regulate big businesses until they can get the best deal. The United Kingdom Parliament is passing a Digital Economy Act (2017) that requires companies reveal their use of customer data. Just to be clear this is an incredibly socialist infringement on private businesses’ rights to operate freely. Next parliament will have to force Grandma to publish her secret recipe just because your family wants to make sure cocaine isn’t the magical secret ingredient. But seriously when are people going to learn that if you don’t like the price, you can go somewhere else. This is why competition exists. It is quite the slippery slope to vote in favor of a bill that compromises a private business to the mold of a public interest.
The drama of this bill came about when transport-giant, Uber, was discovered to have access to data that tells them when a customer’s battery life. Uber admitted that while they know a person is more willing to accept the higher “surge” pricing when their phone is about to run out of battery, they claim that they do not use the information to affect the price. The conversation was raised that tech companies in Silicon Valley have formed a sort of monopoly on data and that that data belongs to the people.
Only it doesn’t. Remember those long terms and agreements pop-ups that you knew deep down you ought to read but definitely didn’t read? Those little guys pretty much caught you red handed relinquishing your rights to such personal data in exchange for use of services. A fair trade most would think—until the price just isn’t right.
It is important to keep in mind that these businesses didn’t become successful for playing it fair. They play it smart and efficient. No one demands a local cookie shop change their prices and reveal their recipes and business plans because their cookies are good but overpriced. People can simply shop somewhere else if that is their prerogative. This is the way a free market works. When governments regulate private enterprises as if they are a public service simply because they are so popular they might as well be, then the market is no longer free. If governments want to redistribute the wealth and services, then they can enter into a trade agreement with those businesses. Everything comes at a cost and that goes for the parliament and its people.
Should profit-driven technology giants be allowed to exploit a consumer society that is willing to be taken advantage of?https://t.co/Rxqg8Zb5zx
— Harriet Taylor (@SermoLibertatis) November 29, 2017