“I realized that I’d been selling my data for free for ages, and decided it was time to cash in.”
Oli Frost demoing the shirt hook, or ‘shook’
Google and Facebook are two of the most valuable companies in the United States and the majority of their revenue is derived from selling advertisements. The reason that these giants of Silicon Valley are able to command a whopping three-quarters of the US ad market is because of the extensive amount of data they have on their users, which can be used to target ads with uncanny precision. This user data is not impervious to abuse, as the recent Cambridge Analytica scandal reminded us, but even in the wake of the misuse of 87 million Americans’ data, Facebook’s net worth only took a small hit.