#11 - Why Is Information Security Important?

  
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We’ve all vaguely heard about data breaches like Equifax or Cambridge Analytica but what does it mean for us? This week we’re discussing why information security is important and who should be held responsible.


[2:40] - What you need to know about Cambridge Analytica.
[3:45] - How we got here, the nudging theory (link has 10 common examples).
[6:00] - Why user generated content is so valuable from a marketers perspective.
[13:00] - Things to consider about data security.
[15:00] - For example: Do you know what banks do with your data?
[18:00] - Facebook’s “parking ticket” fines for data security negligence.
[19:30] - What is GDPR and whether we need similar regulation in North America (link is everything you need to know about GDPR in 5 minutes).
[22:45] - What is net neutrality?
[27:30] - Why Joel pays for online news publications.
[35:25] - Will communist countries be more successful in the 21rst century?
[40:00] - Do our current incentives motivate personal improvement? (Link to Farnam Street article on the power of incentives.)
[42:00] - Who is responsible for protecting our data?
[45:30] - The Politician on Netflix.
[48:30] - A Game of Giants post by Tim Urban explains tribalism.

Democracy is the worst form of government, except for all the others - Winston Churchill

📚 - Yuval Harari - Sapiens & 21 Lessons for the 21rst Century
Sci-fi predictions of what happens without data protection:
📚 - Snowcrash by Neil Stephenson / 1984 by George Orwell / Brave New World by Aldous Huxley

TLDL

1. Cambridge Analytica is important because it’s an example of how vulnerable our data is, how powerful it can be for whoever owns it, and how insignificant the punishment currently is for not taking correct precautions.


2. Data rights are crucial to protecting our ability to make decisions. If you don’t believe us, consider the Stanford experiment which generated an algorithim that can detect whether you’re gay or straight with 91% accuracy.

It might be hard to believe data is persuading us to make decisions, but what about scenarios where it’s making the decision for us?



3. If you believe protecting your data is important start here. Also, please consider supporting Net Neutrality. - https://www.battleforthenet.com/

DISCLAIMER

Joel Shackleton works for Gold Investment Management. All opinions expressed by Joel and Broc or any podcast guests are solely their own opinions and do not reflect the opinion of Gold Investment Management. This Podcast and Substack is for informational purposes only and should not be relied upon for investment decisions. Clients of Gold Investment Management may hold positions discussed in this podcast.