If, like us, you regularly use Google, Facebook and Twitter, then you are worth an average of $110 per year to them in total. In fact, if you’re a heavy user and you could be worth more than $200. Try out privacyfix.com for example to estimate your own personal worth.
When Google acquired Nest and Samsung acquired Smart Things they didn’t just get into the heating business. It’s all about the data. Running a few numbers, Google have over 1Bn users and announced $18.7Bn revenues Q3’15 which means $18.7 per user per quarter - i.e. close to $80/user per year. Similarly, the most recent Facebook figures show approximately 1Bn regular users generating $4.3Bn (growing over 36% YoY) - i.e. likely to exceed $20/user per year in 2015. Equivalent calculation for Twitter shows 320m users generating $569m (growing 58% YoY) which means $10/user per year in 2015.
The other way to look at is the valuation of these companies. Facebook is valued at $289Bn (so $289 per user), Google $492Bn (therefore $492 per user) and Twitter $19Bn (over $59 per user) revealing a valuation of over $840 per user.
My personal data is worth over $840.
We don’t yet know what the value of data about the home is but we can guess it will be huge. Our research (survey of 232 people Oct 2015) found that a majority of us reluctantly accept that we have to agree to all our data being used in order to use free social messaging services - only 15% said it doesn’t matter at all that their data is being used.
We, at nCube, think your home is your castle and is a much more private environment than free social networking and messaging apps and that the privacy model needs to change. The nCube solution is designed to give the homeowner direct control over their data. And for the homeowner to decide which specific service providers they wish to share their data in return for discounted services.
nCube Home is a Pitch@Palace alumni, a Wayra Academy company and identified as one of the top ten tech innovations during London Design Week 2015.