Big Tech extracts retirement-scale wealth from UK internet users, research shows

Brits are apparently giving away the equivalent of a retirement fund every time they mindlessly hammer "Accept All Cookies" just to read a recipe online. A new white paper [PDF] from the Web3 Foundation, a Swiss nonprofit pushing blockchain-based alternatives to today's platform-dominated internet, claims that the average person in the UK and across Europe generates $1,604 a year in commercial value for the data-hungry machinery of the modern internet, rising to an inflation-adjusted value of $189,405 over a 60-year "digital lifetime." In other words, your browsing history may now be outperforming your pension. The paper argues that internet users continue to treat digital services as "free" despite effectively paying with a constant stream of behavioral data, prompts, preferences, location history, clicks, searches, messages, purchases, and whatever cursed thing they typed into ChatGPT at 2am. "The implicit bargain of Web2 was simple: free services in exchange for invisible extraction," the report states. "This paper argues that the bargain was never free." According to the report, the modern data economy now extends well beyond Silicon Valley social networks to include banking, insurance, healthcare, AI systems, enterprise software, and data brokerage markets. Put another way, your Tesco Clubcard is probably building a more detailed profile of you than your GP. The report's main benchmark, called Personal Data Annual Value (PDAV), is meant to estimate the commercial value that firms squeeze out of individual users each year across advertising systems, AI platforms, APIs, enterprise software, hardware ecosystems, and inferred behavioral profiling. Unlike earlier advertising-focused studies, the paper argues AI has fundamentally changed the economics because human-generated data is no longer just fueling targeted ads - it's now training models, improving recommendations, building predictive systems, and helping create new forms of machine intelligence. The paper also takes aim at the internet's increasingly fictional idea of "informed consent." According to the report, nine in ten users accept privacy policies in under ten seconds, while only between 1 and 3 percent read them in full. Facebook's privacy policy reportedly ballooned from 1,137 words in 2005 to more than 7,000 words by 2025 - long enough that the average reader would need nearly an hour to get through it all. "The result is an opaque market in which users supply a core input while others capture most of the economic return," the report says. The Web3 Foundation stops short of claiming users are literally owed a six-figure payout from Meta or Google, noting the figures are intended as a benchmark rather than a direct cash entitlement. Still, it argues the current internet economy represents "a vast transfer of value from individuals to companies" carried out with little visibility or bargaining power for the people generating the data in the first place. So while Britain keeps pushing digital ID and AI adoption, Silicon Valley appears to be monetizing the population one cookie pop-up at a time. (R)