From the description Streetlend didn’t violate the GDPR in concept though. Addresses are public record, available in public databases, and there is nothing stopping you from doing lending eBay. All it needed to do was clear it’s records every 6 months and let people delete their accounts.
Except this isn’t really true. Streetlend made its money by selling your privacy data to advertisers through Amazon. So when you put up a power drill for lend, people would see power drills for sale at local shops, based on their online presence harvested through stuff like their Facebook account.
The really ironic thing about that this is that streetlab imagined itself “ethical” when it’s entire business model was selling your data...
The GDPR isn’t really that hostile to small business and it doesn’t require an understanding of law. You can hire a data protection officer at a legal firm for almost nothing, and as long as you follow their advice on how to pass audits, you’re really not in trouble.
That being said, the GDPR is really hostile toward startups trying to make money the same way Facebook and Google does. You need to have a massive legal department to do that, and Streetlend obviously did not. But is that really so terrible?
It may call for a new business model for the internet, and that may seem impossible right now. But do you remember when the EU outlawed environmentally shitty lightbuilbs and everyone said we were going dark because it was impossible to do anything else? Today 95% of lightbuilbs are LEDs because of that.
Startups will find a way to make money that isn’t selling your data.
Except this isn’t really true. Streetlend made its money by selling your privacy data to advertisers through Amazon. So when you put up a power drill for lend, people would see power drills for sale at local shops, based on their online presence harvested through stuff like their Facebook account.
The really ironic thing about that this is that streetlab imagined itself “ethical” when it’s entire business model was selling your data...
The GDPR isn’t really that hostile to small business and it doesn’t require an understanding of law. You can hire a data protection officer at a legal firm for almost nothing, and as long as you follow their advice on how to pass audits, you’re really not in trouble.
That being said, the GDPR is really hostile toward startups trying to make money the same way Facebook and Google does. You need to have a massive legal department to do that, and Streetlend obviously did not. But is that really so terrible?
It may call for a new business model for the internet, and that may seem impossible right now. But do you remember when the EU outlawed environmentally shitty lightbuilbs and everyone said we were going dark because it was impossible to do anything else? Today 95% of lightbuilbs are LEDs because of that.
Startups will find a way to make money that isn’t selling your data.