Information fiduciaries / by kevin murray

In this modern era of big tech, there are a few companies that pretty much dominant their respective market space, such as Facebook and Google, though there are other companies that also rule their own space, just as well.  A multitude of these technology companies make it part and parcel of their business model to collect and thereby to categorize and to analyze all sorts of data upon the individuals that utilize their services.  No doubt, as it currently stands there are Terms and Conditions so imposed upon the users of these tech sites, that seemingly permits these tech companies to do what they currently do, but that in and of itself, does not mean that this is a practice that should be left as it is.

 

In fact, businesses the world over often have a fiduciary duty, expressed or implied, to those that utilize their services, such as in banking and finance, in which the fiduciary duty of those institutions is to do right by their clients and not to abuse the privileges so granted to them, for their own selfish desires, abuse, or self-aggrandizement.  This thus signifies that in a world in which information about specific individuals has a monetary value for those so collecting and correlating that information, that to thereby sell such to third parties for a price, in one form or another, is typically going to be seen as being anathema to those individuals.  In other words, a fairer construct would impose upon these information collectors, a fiduciary duty to do right as well as to be transparent to their users in regards to the information so obtained, and consequently what these companies are or are not permitted to do with such.

 

In order for there to be trust from one entity to another, there has to be in place, something that is structured fairly to ensure that trust; so that, for example, those seeking medical attention, who so disclose to their doctor their illicit drug usage while suffering from a medical problem should not therefore subsequently be arrested for substance abuse, as part and parcel of having received that necessary medical attention.  In other words, in those situations in which we fully disclose vital information, in order to receive, for instance, appropriate medical help, we typically would not desire that the responsible party obtaining that information, would thereupon sell such or embarrasses us by virtue of having and thereby divulging in one form or another, this actionable information, especially when such is done without our outright foreknowledge and explicit permission to do so.

 

To the degree that information about each one of us, helps to make products better or services that we use, of more value -- so much the better, but it does not necessarily follow that individuals would thereby desire that information so aggregated on them personally should subsequently be done so in a manner in which one's implicit right to privacy as well as discretion would essentially be violated against what one would wish to see disclosed in public; let alone marketed to unauthorized third parties.  This thus signifies that the information that is reaped by technology companies from our online activities should not be seen as essentially being available for others at a price, but rather such should be treated with the appropriate fiduciary care that a responsible company should justly adhere to.