Monetizing data
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Monetizing data has become an intriguing topic, addressing both corporate strategies and personal data control. Here are some insights from experts on the subject:
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Balancing Proprietary and Broad Data Dissemination:
- Adena Friedman, CEO of Nasdaq, explains that their strategy involves making data affordable and implementing utility-based pricing. They offer various proprietary data products while still ensuring compliance through regulatory standards and fair access 1.
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Monetizing Personal Data:
- Jaeden Schafer notes that startups like Caden AI are enabling users to monetize their data by providing intricate controls over what they share. Users can link services like Amazon and Netflix, view insights, and monetize specific data segments while maintaining privacy through anonymization and encryption 2 3.
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Travel Data:
- Glenn Fogel, CEO of Booking Holdings, discusses the potential of monetizing travel data. Their fintech group explores packaging and utilizing data for different purposes, like providing trend insights to partners or even hedge funds 4.
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Digital vs. Data Paradigms:
- Vin Vashishta emphasizes the necessity of viewing data as a main currency rather than a byproduct. He explains that data, unlike traditional resources, can be reused and monetized multiple times, demanding a different conceptual approach to generate value 5.
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Data Monetization Challenges:
- Casimir Wierzynski from Intel AI highlights privacy and security as major hurdles. Federated learning is suggested as a method to monetize data without sharing it explicitly, creating new markets and opportunities for individuals and businesses alike 6.
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Reddit's Data Potential:
- David Sacks and Jason Calacanis identify Reddit's vast, under-monetized user data pool. They discuss leveraging this data for large language models and possible licensing to generate incremental revenue, contemplating acquisitions by tech giants like Microsoft or Google 7.
These insights reveal diverse strategies and opportunities for monetizing data, ranging from corporate to personal scales, aligning with evolving privacy norms and technological advancements.
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