Want a Cut of Facebook’s $39B Data Gold Mine?

www.ozy.com [OZY.COM]( [VIEW ONLINE]( 10 MUST READS TODAY [Daily Dose]( Tuesday May 28, 2019 1 [Fast Forward]( [Fast Forward]( [Want a Cut of the $39B Facebook Makes Off Your Data? That's About $5 a Month]( The social network and Google make money from your information. These startups think it’s time you got a cut. The browser opens with advertisements targeting users based on their internet habits. But unlike most digital platforms, this one pays users 70 percent of what it earns when they interact with an advertisement. Sure, it’s lower than the 100 percent of returns the Facebooks and Googles of the tech world enjoy. But for Brave, the firm behind this browser, it’s a model for how to responsibly use personal information in an era in which consumers are growing increasingly conscious about the privacy — and value — of their data. For many years, platforms such as Facebook and Google have tracked user data — from browsing history to email addresses — and deployed that to offer companies targeted advertisements. In 2017, Facebook earned $20.21 per user this way, according to filings with the Securities and Exchange Commission — its 1.94 billion monthly active users at the time would have brought in $39 billion in revenue. But none of that money was shared with users. Then there are the violations of data privacy: In April, Facebook confirmed that it’s likely to incur $3 billion to $5 billion in fines from the Federal Trade Commission, potentially for sharing user data without explicit consent. [READ MORE]( 2 [Rising Stars]( [Rising Stars]( [She Uses Twitter to Bring New Voices of Color to the Literary World]( Beth Phelan, the literary agent behind Twitter pitch event #DVpit, is elevating marginalized voices. From reading Harry Potter in a closet during a family vacation by the light of a flashlight to wanting to skip class at New York University to read books, Beth Phelan’s life has been wrapped in stories. Now she’s making sure the next generation of readers revels in the magic of a wider range of voices. As a literary agent, Brooklyn-based Phelan is one of the most active online voices boosting work by traditionally marginalized authors. Not only is the list of authors she represents diverse, but Phelan also is helping unrepresented authors sign with other agents and revealing the truth about the finances of the industry. Phelan, 32, created #DVpit (Diverse Voices Pitch) in 2016, a Twitter event for aspiring authors to pitch their books in the hopes of connecting with an agent. She was doubting herself at the time, trying to find her voice as a young agent and woman of color, and was met with rejection and skepticism about using Twitter as her primary channel. [READ MORE]( 3 [Acumen]( [Acumen]( [Two-Thirds of India's Inmates Have Not Been Convicted]( Despite attempts at reform, a majority of those in Indian jails are still awaiting trial. When Deepak Mishra, 36, talks about his time in prison, it is with anger and frustration. He was arrested in June 2013 on drug-related charges and spent four and a half years in Tihar Jail in Delhi, South Asia’s biggest prison complex. And that was before a conviction was handed down. In fact, there has still been no conviction. Mishra was awarded bail in December 2017, but his case still hasn’t been decided, and those four-plus years — which he describes as narag, meaning “hell” — won’t count toward jail time if he’s found guilty and sentenced. Mishra is not alone. [READ MORE]( more from ozy, below [Advert]( [Advert]([Advertisement] 4 [Need to Know]( [OZY Fest Is Back! 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