Killi outlines how removal of Identifiers for Advertisers by Google, Apple will impact the market

Jan 27, 2021Killi Ltd. (TSXV: MyID) (OTCQB: MYIDF) outlines how removal of Identifiers for Advertisers by Google, Apple will impact the market. See full video interview on Proactive Investors’ website.

CEO Neil Sweeney tells Proactive how he thinks Google’s decision to stop collecting Identifiers for Advertisers (IDFAs) for its iOS apps will impact consumers. Sweeney says anyone looking to track consumers from a mobile perspective, now can’t do this anymore, and he believes third party-publishers will go out of business.

Here’s How IT Leaders Can Adapt to Stricter Data Privacy Laws

This commentary was originally featured in InformationWeek


Infoweek features commentary from Killi CEO, Neil Sweeney

Here’s How IT Leaders Can Adapt to Stricter Data Privacy Laws

Whether we are prepared or not, there will be a global shift toward strict data privacy rules in the coming year.

As the US moves past one of its most critical election cycles in years, data protection legislation is poised to take center stage in the coming year. This comes as many Americans have become increasingly concerned about transparency from big tech when it comes to their privacy and personal data. 

In a recent survey conducted by PWC, 85% of global consumers wish there were more companies they could trust with their data. And now the pandemic has given rise to contact-tracing mobile applications, which despite helping keep people safe, also track consumer data persistently. This led to over 60% of Americans who were surveyed feeling that their privacy has been compromised due to COVID-19 location tracking.  

It’s clear that consumers have become more aware of how their data is collected and used, and now they’re looking for answers from the government and the corporate world as to how they will be protected. A big amount of this responsibility falls on businesses and their IT teams, who will be tasked with making serious efforts to improve data security for customers, whether it was a part of their plans or not. 

This is due to the fact that GDPR in Europe and now, California’s Privacy Rights Act have set the stage for a new era of privacy protection for consumers. Americans’ appetite for data privacy legislation has grown, and now business leaders must acknowledge these challenges by developing data solutions built around compliance and trust.   

Big Tech falls under the congressional microscope

Data-reliant businesses like Apple and Facebook, which make billions of dollars annually off personal information, are keeping a close watch on the shifting privacy landscape. Google’s plans to eliminate third-party cookies from Chrome was a move towards ensuring consumer trust; and now many businesses and their IT teams are facing massive changes to their privacy and data collection practices. Google’s gesture is ironic seeing as the company is facing a $5B lawsuit after being accused of illegally invading the privacy of millions of users by continuously tracking internet usage through browsers set in “private” mode.

CPRA will set stricter privacy standards than ever before 

Many CIOs and tech teams were initially afraid of the potential impact California’s initial CCPA would have on their businesses, especially considering the massive GDPR violations that have cost organizations upwards of $228M

Businesses and their tech teams should expect to see a continued federal push from the Biden administration to implement nationalized standards for data protection. The movement is starting to take shape with the passing of California’s new CPRA law, which gives the power of consent to consumers around how businesses manage their data. This is a big win for consumers, as nearly every major data company in the financial market has holding operations in California. As a result, businesses will be held accountable to much stricter privacy regulations, causing IT teams to adhere to yet another set of potentially complicated compliance obligations.

As these regulations bring in a new era of transparency that is more customer-focused, secure, and profitable for all, businesses that rely on data should recognize that the paradigm around data has shifted for consumers. The comprehensive marketing and advertising ecosystem led us to believe that data is cheap, when in reality, it is extraordinarily valuable. The value of data will continue to rise in conjunction with consumer awareness, and as the world is more digitally connected, it will usher in a new era of data privacy and management. If CIOs and IT teams can further their understanding of how consumer data is misused, it will go a long way toward creating a more fair and open data exchange for their customers, and in positioning themselves as champions of fair and ethical practices.

Whether we are prepared or not, there will be a global shift toward strict data privacy rules. Data shows that 80% of Americans believe stricter data protection laws should be implemented to safeguard against big tech companies. The combination of international legislation, government pushback against companies like Google and Facebook, and increased consumer awareness will bring a much-needed fresh approach to how businesses conduct their data-driven customer outreach strategies in 2021.

Proactive Investors Interviews Killi CEO, Neil Sweeney

Killi Ltd. (TSXV: MyID) (OTCQB: MYIDF) is trying to change the relationship between consumers and their data. The NYC-based company is doing something unusual in the tech world: paying consumers for their information. 

By creating a profile in Killi via the website or mobile application, users can make money by giving Killi access to their information, which it, in turn, sells to other companies. From there, the company pays out a data dividend every week.

Leading the consumer compensation charge is CEO Neil Sweeney, who says that Killi is working to create what it calls a consented data profile for every American over the age of 16. 

Proactive Investors caught up with Neil to talk about how it all works.

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Tell me about how Killi got started.

I’ve been working in data for quite some time. My last company was called Freckle, which Killi was incubated inside of, and we were ingesting 150 billion pieces of location data a month.

What became clear to me was that there was this disparity between what consumers would be willing to do and what was actually happening with their data. Most people don’t want to share location data, yet location data is being collected in the background via various different applications. 

Secondly, the notion of compensation for data is completely out of whack. The cost for location data today is less than a penny per month per individual. Again, consumers don’t want to share location data, and if they did, they’d want to be compensated to the tune of anywhere from $1 to $10 a month.

It’s an absolute ticking time bomb, and if the consumers get wise to what’s being collected on them, it’s going to blow up. With that in mind, we started working to create an ecosystem of inclusion to allow consumers to have transparency and compensation.

 

How do people find out how much their data is worth

You don’t have to figure it out because it’s already being sold. When you plug in, there’s breadcrumbs from social media, credit card purchases, charitable donations, web browsing, smart speakers, you name it. If you go into the biggest platforms in the world, like Oracle and others, it’s basically a menu. 

What’s happening is people are buying and selling data, but they’re not including the person who actually owns the data. If you found out your next door neighbor had been taking $40 out of your wallet every quarter for the last 10 years, which is what Facebook has been doing, you’d probably go over there and knock on the door. By including the consumer, we think that the pricing is going to fundamentally change. 

We have a site called Uaretheproduct.io where you can select the different platforms that you subscribe to, and it will tell you how much your data is being sold for. It’s anywhere from $500 a month to $6,000 or $8,000 a year, and that’s without you involved. With you involved, it’s going to go up. 

 

What are you doing to bridge that gap?

Well, there tends to be this romantic notion that you as a consumer should control all your data. That’s impossible — data is just too vast and too thorny. Doing so would require you to unplug and unsubscribe from everything and walk around basically wearing a tinfoil hat.

So let’s acknowledge that that’s not an option. But then let’s also acknowledge that the idea that platforms should have an open-ended license on your data is also bonkers. 

New privacy regulations like the California Privacy Right (CPRA) act are beginning to force the inclusion of the consumer into the conversation. We think that is going to remove a lot of non-compliant data, which is going to mean an increase in price. And then we’re going to add the consumer, which is going to increase pricing even more. 

The privacy legislation is forcing people that use data to make sure that there’s consent. That means everybody who has bought data over the last 20 years, is now going through an identity crisis — that’s an unintended pun but it’s real. 

 

What is Killi doing to include the consumer?

There’s a profile on every single consumer in the world, and what we’re trying to do is take that data and put it underneath their control by giving everyone a Killi username and password. What they do with it from there is up to them.

We are adding more than 800,000 new accounts to our Killi ecosystem every week, and we’re trying to put a consented profile under every single American over the age of 16 next year. Every single person over the age of 16 can be a Killi client because everyone that age is already having their data bought and sold.

One of the big things that we’ve done is we’ve introduced the Killi Paycheck, which is actually paying Americans every single week for the use of their data. Users can make anywhere from $1- $12 a month inside of this platform by doing very little. 

There is no real consumer brand associated with data, and I think part of the problem is that you can’t hold onto data, you can’t see it. We’re trying to build a brand that is synonymous with consumer data, the way that Warby Parker is synonymous with eyeglasses or Uber with ride sharing. 

We think our platform, which provides compensation and then a very subtle, inevitable education around data is the way to do it. It’s hard, but that’s what we’re working on.

If we get it right, all of the money and market share will move from these data brokers and management platforms that don’t include the consumer to us, which we think is a multi-billion- dollar opportunity. It’s the market cap of SAP, Salesforce, Oracle, LiveRamp and 100 others rolled into one.

 

Godspeed.

Yeah, no pressure, right? But over the last few quarters, we’re popping.

We spent the majority of this year building the technology. In January, what you can expect is we’re gonna start to increase consumer awareness around the product. Killi is in five countries now, and we’re looking to expand to 10.

There’s just no way that if you fast forward five years from now that things are going to be the same.

 

 

You can also find the full interview here.

Adelphic Partners with Killi Ltd., First DSP to Integrate Fair-Trade Audience™ Taxonomy

Adelphic Becomes First Demand Side Platform To Integrate Always-On Killi Audiences.

Highlights:

  • This new and differentiated data set will enable brands and agencies to reach specific audience segments as part of their Adelphic campaigns.
  • “This partnership further enhances our integrated data footprint for our people-based DSP,” said Jon Schulz, CMO of Viant.
  • “With increased demand from brands and agencies for explicit compliance and consent for any data powering their campaigns, buying platforms that are able to provide this unique type of data will increasingly garner market share,” said Neil Sweeney, founder and CEO of Killi Ltd.

Full release can be viewed here.