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e live in a high-tech world, one where computing technology has diffused into virtually every aspect of human life in a relatively short amount of time. Consider that in less than a decade, we have seen the rapid evolution of social media from a mere curiosity to an indispensable tool for private and public expression. We have seen it transform social interactions around the globe, disrupt business and create entirely new industries. It has sparked the development of a sharing society and a world where privacy seems to becoming a thing of the past. In an article written by Alladi Venkatesh, professor of Management and Informatics at the UCI Paul Merage School of Business, questions surrounding consumer privacy and security in the digital world are explored. Published by the Journal of the Association of Consumer Research, WKH DUWLFOH WLWOHG ´Social Media, Digital Self, and Privacy: A Socio-Analytical Perspective of the Consumer as the Digital Avatar µ H[DPLQHV WKH implications of the social media explosion for consumer privacy. &RQVXPHUV WRGD\ DUH SHUVRQLÀHG E\ GDWD 7KHLU ´GLJLWDO DYDWDU µ FRPSOHWH ZLWK GHWDLOV RI their private lives, photos, even their opinions, is published for all to see, share, even sell. Social media companies collect vast amounts of data
18 UCI PAUL MERAGE SCHOOL OF BUSINESS
capturing everything from political views and social dispositions to intimate personal preferences and details of consumer digital avatars. Databases are available that store and share this information, for a price, with marketing organizations, retail establishments, even the government and law enforcement. As more companies begin to monetize their data operations, the economic value of this information only increases. But what is concerning is the fact that much of the collected data is shared without the knowledge or consent of the consumer. Consider these recent headlines: FTC Halts Operation that Unlawfully 6KDUHG DQG 6ROG &RQVXPHUV· 6HQVLWLYH 'DWD )HGHUDO 7UDGH &RPPLVVLRQ -XO\ Google now knows when its users go to the store and buy stuff (The Washington Post, May 23, 2017) ISPs can now collect and sell your data: :KDW WR NQRZ DERXW ,QWHUQHW SULYDF\ UXOHV, (USA Today, $SULO
7KHUH LV 1R 6XFK 7KLQJ DV 7UXH 3ULYDF\ LQ WKH 'LJLWDO $JH, (Government Technology, March 10, 2017)
So, is there no place for privacy in the contemporary world? It is doubtful the rate of digital transformation
