Personal Data as an Asset Class: Making Money and Dodging Risk
A Real Time Club Event in Whitehall
Yahoo has “lost” a billion personal accounts, but today big data breaches are so frequent this is little more newsworthy than a slight increase in shoplifting at Tesco.
Yahoo is lucky that this didn’t happen under the new GDPR where they could be suffer a fine of 4% of their total global turnover. However, it certainly calls into question their purported acquisition price of $4.8bn and gives them the challenge of increased customer churn.
In the UK, is the well reported TalkTalk hack a turning point for the board’s focus on the effectiveness of their cyber security solutions and response?
The devil’s contract with data is that it is just so valuable, Microsoft bought LinkedIn for $26.2 billion a staggering 91 times earnings (M&S is about 10) arguably to get access to our personal data; so lustrous is this fairy gold that many startups have as the official core of their business strategy to get bought by Google with only vague ideas on actually charging customers for their service.
However, as Ashley Winton will explain, looming new laws in Europe will bring into sharp focus the strategies that will be needed in the future to protect the value of your data, and to continue to exploit it in the creative way that has driven such high valuations for social media and telecoms companies. For data to be valuable it must be yours to sell, be consistent, be in a rational structure and navigate the increasingly tangled web of privacy laws for the web.
Even before Brexit you couldn’t move around Brussels without meeting expert lobbying from the Californian giants. Post Brexit, will UK plc rise to the challenge and create a business friendly environment for processing and profiling data in the UK? Will the governments new superpowers in the Investigatory Powers Act help or hinder this objective? With President Trump in office, what will happen to data sharing agreements between the UK/EU and the US?
This is a great time to be a privacy and cyber security lawyer and we’ve persuaded Ashley Winton, expert in cyber law at Paul Hastings global law firm to speak under the Chatham House rule after our traditionally fine three course dinner.
Real Time Club Dinners are held under the Chatham House Rule to encourage free and frank conversation.
Founded in 1967, the Real Time Club meets to network and discuss technology issues of the day at the National Liberal Club. Over the decades we have evolved a format of:
6:00 to 7:00 Networking at our open bar
7:00 to 8:15 A fine three-course dinner
8:15 to 9:00 Our Speaker will talk about “Personal Data as an Asset Class: Making Money and Dodging Risk"
9:00 to 10:00 Questions from the floor.
Dietary Requirements: Please contact the organiser with any specific dietary requirements at least 5 days before the event.
Ticket sales end one day before the dinner due to kitchen logistics.
Refund Policy: Refunds are only made at the discretion of the organiser and where agreed will be made by cheque to the buyer within 14 days of the request being confirmed by the organiser. The ticket buyer shall request a refund directly from the event organiser by email to email@example.com under the following terms:
Refund requested up to 21 clear days before the day the event is due to take place: refund due 100% of total ticket cost minus a £7.50 administration fee. Refund requested between 20 and 14 clear days before the day the event is due to take place: 75% of total ticket cost minus a £7.50 administration fee. Refund requested between 13 and 3 clear days before the day the event is due to take place: 50% of total ticket cost minus a £7.50 administration fee. No refund will be made for requests made after that date.
When & Where
Real Time Club
Born as an IT dinner club 50 years ago this year, the Real Time Club is one of London’s foremost networking institutions. The Club’s networking events bring together people from diverse professional backgrounds with common interest in technology and society. The Club’s membership includes entrepreneurs and professionals form the tech industry, public sector, academia and finance.
Every year the Real Time Club runs a series of dinners with distinguished speakers on current issues of the information age. The Club’s dinners encourage robust and well-informed debate, while enabling interesting people to meet one another. There are around six dinners a year, most of which take place at the National Liberal Club, Whitehall Place, London SW1.
Real Time Club dinners are open to non-members. Everyone is welcome to attend.