If you aren’t 100% committed to data privacy all the time, which is damn hard to do and live in society, they could probably tell how many pimples you have on your ass and charge accordingly.
Even if you were 100% perfectly committed, there would be all sorts of little signals and things that would leak out enough for them to adjust pricing accordingly. The kind of clothes you’re wearing, the time of day you’re shopping at, your gait, expression, etc.
Even if you were able to perfectly exclude all information about you, it’s possible to gather data from the hole that you leave behind. You aren’t leaving data behind like a lot of other customers, so that would probably make you either old, or privacy-inclined. You’re not buying the same things as an old person, so you’re not old, and you can pick it up from there.
Because they can pay 10 million to a consulting firm to develop a customer-profiling model that predicts their income based on the most recent purchases with a 10% margin of error.
If a bank or a CC company scans your face for whatever reason and then shares that info like they do with credit scores by default today - your data will be available on the marketplace
How do they know what my income is?
If you aren’t 100% committed to data privacy all the time, which is damn hard to do and live in society, they could probably tell how many pimples you have on your ass and charge accordingly.
Seven pimples detected applying surge pricing to pimple cream
No not my ass pimple cream
Even if you were 100% perfectly committed, there would be all sorts of little signals and things that would leak out enough for them to adjust pricing accordingly. The kind of clothes you’re wearing, the time of day you’re shopping at, your gait, expression, etc.
Even if you were able to perfectly exclude all information about you, it’s possible to gather data from the hole that you leave behind. You aren’t leaving data behind like a lot of other customers, so that would probably make you either old, or privacy-inclined. You’re not buying the same things as an old person, so you’re not old, and you can pick it up from there.
Area code is best predictor for income, followed by grocery store habits.
Because they can pay 10 million to a consulting firm to develop a customer-profiling model that predicts their income based on the most recent purchases with a 10% margin of error.
So if someone only buys cheap stuff and not much, they will be considered less wealthy even though they could be a millionaire.
I know, I know, statistically it will be alright and that’s what counts in the end from the business perspective.
You’d probably be surprised and scared if you knew what companies know about you.
If a bank or a CC company scans your face for whatever reason and then shares that info like they do with credit scores by default today - your data will be available on the marketplace
Because credit card companies and banks sell that info. Other aggregate that based on cookies and other user info.
Most places don’t need to know your specific income, just that you’re living in X area and are making 150-200k, etc.