By Eric J. Sinrod
Technology companies collect all sorts of data on their users. The terms of service located on their web sites spell out for users the types of data collected and how that data will be used. The data collected from users is extremely useful for tech companies in terms of how to market to them further, and accordingly, that data has tremendous economic value.
Along comes the Governor of California, Gavin Newsom, who according to APNews.com, has announced that California consumers should share in the billions of dollars that tech companies make on personal data they collect. Indeed, Governor Newsom reportedly has asked his aides to come up with a proposal for what has been referred to as a "data dividend" for California residents. However, it is not clear whether he envisions a tax on tech companies, refunds to users, or some other idea.