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/biz/ - Business & Finance

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16618118 No.16618118 [Reply] [Original]

Do you think google or facebook sells data to large investment banks to trade against small firms or hedge funds? I know a handful of firms who use mostly the same sources and advice as mine, it would probably be pretty easy to identify similar traffic to ours and identify common trends so the firms could trade against us. A couple low 8-9 million dollar funds all using similar strategy's would add up to a nice pile of cash, and could be rekt fairly easily.

Do you think the gov sells any data like that? NSA/CIA selling finance secrets on foreign firms or competitors?

>> No.16618232

>>16618118
I’m not understanding your question. I’m a brainlet

>> No.16618270

>>16618232
You know how google sells browsing data to advertisers right? They can pinpoint a persons employment using their location and browsing history alone too. So what if they sell targeted data, using your conversation history and e-mails they determine what "small fish X" invests in and sell that data to Goldman sachs.

>> No.16618277 [DELETED] 
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16618277

>>16618118
bots can scrape that data. they dont need to buy it

>> No.16618307

>>16618277
Yeah, but they could also have access tovery specific data. Through snowden we know that the NSA is capable of things like scanning and reading attachments in real time. They could have all your allocations and positions for every client in real time. Obviously this is highly illegal, but do you think they do it? I don't think google would turn down the offer if it was priced right.

>> No.16618354

>>16618270
That sounds illegal because they would probably be violating the terms of whatever payment gateway api you used to make your online investments. I feel like it’s in encroaching on very stringent SEC regulations, but I might be wrong.

FAANG doesn’t hesitate to sell your data if they know you’re buying, say, dog toys on Amazon but I get the feeling that personal finance is a whole different story. I’m sure they know that you’re investing so they can target you with Robinhood Ads etc... but the notion of them knowing exactly what you’re investing in feels intrusive, so much so that it’s probably illegal. What do I know though, I’m a brainlet.

>> No.16618441

>>16618354
Oh yeah, It definitely is encroaching into SEC gray areas at minimum. Many people use small businesses though, like wealth managers they know from school and stuff to invest and save. I imagine it would be a lot easier and safer to collect up those small funds, track 10 businesses who have 400 clients each instead of tracking 4,000 people. The tech is there though and everyone uses it now, and you're right most people don't know the laws too well. It really makes me wonder if it actually happens.