The reform that would really break Facebook would be strict limits on behavioral data collection, and a ban on using customer data in third-party ad targeting. This would bring advertising back to the pre-2000 status quo and demonetize some of the worst behaviors on social media.https://twitter.com/justinamash/status/1445462709588291586 …
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And this is an even easier problem than that, you have some subset of people to train on and then have to guess about those who opted out. The second part of the answer is that the inferences don't even have to be great. Who's going to check? Where else will people advertise?
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The whole question of how accurate even the current invasive targeting model is is an open one. Remember that this whole apparatus is heavily gamed by fraudsters and completely non-transparent. And then finally, even a complete ban in the EU wouldn't deter Facebook surveillance.
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Is this the federated approach that Google has been talking up? My query - and this really depends on the details of regulation and how it is applied - is how much can be done with no personally identifiable information at all.
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I agree that even if the hammer came down, advertising monopoly will likely stick w/o good ability to target narrowly, because: business conservatism, but that seems to me (on first impression, open to revision) to be more of a standard monopoly problem.
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