Why the GDPR Will Make Your Online Experience Worse [Fortune]
Meta Platforms, Inc. - Class A (FB)
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Source: Fortune
Early computer programmers created the Y2K bug by failing to consider if computers would know the date 00 meant the year 2000. Fixing this simple oversight cost an estimated $500 billion worldwide with little to no added value to the global economy. But at least it was a one-time only cost. Today, the world is counting down to another massive and ongoing techno-spend with no added value: the European Union’s General Data Protection Regulation (GDPR). The GDPR is a set of regulations imposed by the European Union on all organizations processing European personal data. Companies face several requirements under the legislation, which goes into effect May 25, including explaining to their customers how their algorithms make decisions, alerting data protection authorities of breaches within 72 hours, and deleting an individual’s data upon request. While privacy advocates are swooning over the new rules, the reality is that the new regulations will harm not only the organiza
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