I don't think users owning the data will work; CA went through Mechanical Turk and paid people a few dollars to sell out their own and their friends' data. It's a tragedy of commons and a public good situation: the only viable path forward is not to have a surveillance machinery.
And I bet we'd see a race to the bottom. It is very hard for anyone to understand whole range of implications, let alone unknown the future, and the incentives at the individual level and the collective level are not aligned (as is the case with many public goods).
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See, that's another underexplored idea. Data collection, minimized to function, with hard-expiry attached. I can imagine a world in which even Facebook does versions of this, remains pretty wealth and with much less of the externalized harms. We are stuck in a narrow space.
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