Big Data Industry: The Hidden Ways Your Data is Manipulated
Valuetainment
Valuetainment Episodes
4.8 • 1.7K Ratings
🗓️ 11 December 2023
⏱️ 14 minutes
🧾️ Download transcript
Summary
Patrick Bet-David explains how Data Brokers capture and sell your data. In this episode, you will learn how much companies know about you and how valuable your data really is. Purchase tickets to the PBD Town Hall with Robert F. Kennedy Jr on December 6th: https://bit.ly/3sog9qg Connect With Experts On Minnect: https://app.minnect.com/ Get best-in-class business advice with Bet-David Consulting: https://www.betdavidconsulting.com/ Visit VT.com for the latest news and insights from the world of politics, business and entertainment: https://valuetainment.com/university/ Subscribe to the VT Network: @VALUETAINMENT @PBDPodcast @ValuetainmentShortClips @vtsoscast @ValuetainmentComedy @bizdocpodcast @BrandonAceto @kvoncomedy Want to get clear on your next 5 business moves? https://valuetainment.com/academy/ Join the channel to get exclusive access to perks: https://bit.ly/3Q9rSQL Download the podcasts on all your favorite platforms https://bit.ly/3sFAW4N Text: PODCAST to 310.340.1132 to get the latest updates in real-time! Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller Your Next Five Moves (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.
Transcript
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| 0:00.0 | Do you ever find yourself talking to your spouse or friend about a camera you want to buy or a car you want to buy or specific thing you want to buy in next unit for the next 24 hours? |
| 0:07.2 | All you see is all these ads. You never searched it. You never did anything. Are they watching? Are they listening to you? What's your data worth? Do you know what |
| 0:13.6 | percentage of Americans actually know anything about how marketing companies track your |
| 0:19.4 | date on my date? They know what the number is? Less than 3% know exactly. They did a sample of 2,000 |
| 0:24.6 | Americans asking 17 questions to see how many of these questions they would get |
| 0:29.2 | right. This is the result. 77% got anywhere between 0 to 9 right. That's a failing grade. 15% got 10 to 11 right. 6% 12 to 13. |
| 0:39.0 | Only 1% got 14 to 15 right. 003 got 16 right perfect score was pretty much impossible |
| 0:46.3 | out there why most people don't know how this industry work the whole industry |
| 0:49.7 | global data broker like meaning if you're selling other people's information. You know how big |
| 0:53.7 | that was in 2022? 268 billion and estimated to be 365 billion dollars in 2029. |
| 1:00.6 | By the way most people don't even know how this industry works. We're going to talk about that today. If you give value out of this video, give it a thumbs up and subscribe to the channel. |
| 1:17.0 | Let me kind of share with you what World Economic Forum said in 2011. |
| 1:20.7 | They said it was theorized that personal data will become a new asset class and will become |
| 1:25.8 | one of the most valuable resources on the planet. |
| 1:29.2 | So valuable that 68% of businesses worldwide in 2021 were buying third-party data from |
| 1:36.2 | data brokers and by the way if you want to see which countries were leading the |
| 1:39.0 | way here's what it looks like at the top US 73% EU not including UK was 71% non-EU Europe 69% Canada |
| 1:48.6 | 59 Asia 56 Latin America 51 middle east 48 UK, and you got the rest of them. But the U.S. |
| 1:55.2 | Very interested on what you and I do. Very, very interested. And just to kind of give you a visual |
| 2:00.0 | what this really means, in 2021, it was estimated that data brokers held |
| 2:04.2 | information about customers that would feel you know how many filing |
| 2:07.4 | cabinets ready 16 trillion filing cabinets with all the data they gather with you and I. |
... |
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