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Privacy violations create irreversible damage. There is no compensation scheme for data leaks.

Women in Data Science invited me to a panel on «Data and Ethics», where I talked about privacy challenges using the example of Clubhouse. Here is one of my statements:

Clubhouse is the epitome of ‘moving fast and breaking things’: move fast, get all that data, grow fast without any respect for collateral damages. And know that you earn hopefully enough money while doing so to be able to pay for compensation later. But the damage created by privacy violations is irreversible. It’s not like, say, CO2 compensation where you can [allegedly] compensate the CO2 you emitted by planting trees that capture the same amount of CO2 somewhere else.

Watch the video here:

Robin Hood (the Sherwood Forest version) would be disappointed by his Silicon Valley-Wallstreet namesake. (Photo by Steve Harvey on Unsplash)

Robinhood: democratized finance on shaky ground

More than 900 years after the heroic figure Robin Hood set out to steal from the rich and give to the poor, two American entrepreneurs borrowed his name to establish a fintech company that claims to “democratize finance for all”. But the new Robinhood’s claim of ‘democracy’ is on shaky ground. Just as the company can make financial markets accessible to everyone, it can also deny access within a split second. This is what happened when they shut down Gamestop trading on January 28, 2021. Thousands of investors were presented with a fait accompli.

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