If you’re not paying for the product, you are the product.
When many people hear this now-famous phrase, attributed to a Twitter user named Andrew Lewis, they are rightfully disconcerted but perhaps also left with a helpless feeling.
Reklaim CEO Neil Sweeney is not one of those people. Sweeney formed Reklaim (Reklaim Stock Quote, Chart, News, Analysts, Financials TSXV:MYID) to democratize data ownership and return some of the power back to people who create it.
At the 2024 Cantech Investment Conference in Toronto on October 9, Sweeney sat down with Amber Mac to delve into the issue, and make investors aware of the opportunity.
“You have eight billion people in the world today. Every single one of them has a data profile. Nobody has access to it,” Sweeney said. “You have this $700-billion plus data market that has historically been built on collecting data and selling data, unbeknownst to consumers, that is undergoing a pivot where privacy laws are changing to make it illegal to be selling that data unbeknownst to consumers. I think what I happy about is that we have been very successful in continuing to bring on new Fortune 500 brands such as GM, Unilever and UPS. These are real brands using Reklaim data to power their decisions. But I think the overarching them here is that this notion of privacy and forcing companies to include the consumer is increasingly picking up steam.”
Full interview below:
About The Author /
Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
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