Re: A long time ago...
The sooner investors realise that personal data is actually worthless, the sooner we can get back to having shit that doesn't track us. A database full of PII is a cheap way for an investor to claim some sort of value for the money he/she has put in to enable them to sell it to another investor, who will grow that database and somehow increase the value of the investment and so on.
Collecting data has absolutely nothing to do with knowing more about you, it's about investors creating perceived value out of nothing to add value to something that has no actual value.
We live in a time where innovating and creating products is functionally dead, because it's way easier to make money circle-trading worthless databases with no actual use. Making high quality products and pushing technical boundaries requires huge amounts of time, money and research...producing an app with a simple "useful" feature that collects your data costs fucking peanuts.
Buy a list of people in the demographic you want to target, build a shitty app, email that list to market the app, give each sign up an incentive to invite a friend...double your database...sell the business. Wash, rinse, repeat until you have millions of users...then float it. Flog half the business to a bunch of Saudi investors who act as a "board", install a disposable chairman and put a revolving door on the CEO office...dump your shares and fuck off. That is how business works. They don't give a shit who you are, how often you fuck, how long your dick is etc etc...all these database fields are just a way to make the database somehow more interesting to investors, because the database is more unique...but not necessarily more useful...but it can be filtered and broken down to start the process again by skipping step 1.
Everyone here that has ever been involved in a startup in the last 5 years knows this...doesn't matter how passionate you are about building the product for them, or your ideas for making it a quality app...they want it out the door in six weeks as close to working as possible so they can launch and get those sweet, sweet sign ups.
At least half the startups that I've walked away from had an end game goal that involved funneling users to some sort of line of credit, a subscription they don't need, a fucking DEFI platform, NFTs etc etc.
Once again, they don't care about the data itself. The data exists for the sake of it existing. Investing in data backed companies is like buying a house...while there is still potential to extend, there is potential value for the future that allows you to beat the market. Once it's been extended as far as it can go, it loses it's potential and it is what it is...it's just a big house that will accrue or lose value in line with the market. You can no longer squeeze any additional value out of it and beat the market...in fact with no potential left, it might become less attractive and lose you money / make you the final bag holder.