Fintech Data Mining, Guinea Pigs for data
Currently I am in Brentwood around or even nearby Santa Monica but not really Santa Monica, I jumped on my door dasher app and I noticed in the location that I’m currently sitting at it is busy or very busy as DD states by the darker shade of red and the current location that I’m at noticed other places are pink or even somewhat the same type of color but not really.
using data to improve their products
I think it has to do with me being in the current location and the apps algorithm is messing with my head thinking that I’m in a current position to profit just by the darker shade of red and buy them telling me it’s very busy it might will be very busy but I have my doubts with anything with these fintech companies do.
They use data as if they were data scientist they steal data by providing statistics of how much money a certain product certain situation certain market does at any given day.
Now with all the algorithms on YouTube or even on Instagram or even on the websites that you go to you see ads that are somewhat related to what you were thinking about or what you were scrolling about they get inside your head with data.
How much money can one company extract with certain metrics
We know This as data mining.
Making statistics a lot more complicated, by using compute power.
So what better way to continuously improve your own product? By simply allowing ““ DoorDashrs to essentially sit as a subject for the data mining so for instance I’m sitting here, it calculates the time I wait for an order how fast I accept an order how long I take to start driving to that location etc.
Every month, there is a new update a new upgrade to the app a tweak here and there with the data that they gather from the previous months can you imagine how powerful all these companies such as DoorDash, Uber there able to gather data by simply providing tools for a completely different situation.
The CEO of Uber once said they are not a taxi company they are a tech company all these companies they call them selves “tech companies” essentially obviously DoorDash does not have any drivers they do not work as delivery people like DoorDashrs they are only simply a tech company they provide solutions for problems does the continuation of gathering data for other products and services not only for the Dasher’s but also for the people ordering and using these applications for deliveries for their own services.
Just imagine NeuroLink to not only mine data but mind your memories, we can even do it for crypto
We know the tech is there we know the tech has always been improved on we know sooner or later that is gonna be a possibility mine data with our own eyes black mirror style
We provide a value that we are not even compensated for and that is to provide their life blood for their fintech companies