Speaker 1: Are you getting a bunch of terms of service emails?
Speaker 1: Here is the reason why. I'm Rich Demiro. This is
Speaker 1: Rich on Tech Daily. Well, if you've checked your inbox lately,
Speaker 1: you have definitely seen them emails with the subject lines
Speaker 1: like important update to our terms of service and privacy policy,
Speaker 1: or we're updating our terms of service and privacy policy,
Speaker 1: or simply GDPR. Notice, it's all because of that acronym,
Speaker 1: something called the GDPR, or General Data Protection Regulation. It's
Speaker 1: a new European law, but it's having implications here in
Speaker 1: the US. The new law requires companies to better explain
Speaker 1: to consumers the data that they're collecting and ensures that
Speaker 1: they use it in a responsible way. Basically, it's all
Speaker 1: to prevent another Cambridge Analytica style situation. Although keep in
Speaker 1: mind this law has been in the works long before
Speaker 1: that scandal broke. And the reason why these companies are
Speaker 1: taking the new law so seriously there are signs magnificant penalties.
Speaker 1: We're talking fines in the billions of dollars if they
Speaker 1: don't comply. And the interesting thing about the law is
Speaker 1: that even though it applies to European residents, big companies
Speaker 1: around the world are deciding that it's just kind of
Speaker 1: easier to update their general terms of use and their
Speaker 1: privacy policy for everyone instead of having different guidelines for
Speaker 1: different parts of the world. That's why we're getting the
Speaker 1: emails from all these companies here in the US, So
Speaker 1: in effect, we are sort of benefiting from the European protections,
Speaker 1: even though here in the US we do not have
Speaker 1: the same strict or one size fits all privacy law.
Speaker 1: Now one provision. Some eagle eyed email recipients have noticed,
Speaker 1: and some of you have emailed me about this. Some
Speaker 1: companies like Oath, which now owns Yahoo, are asking consumers
Speaker 1: to give up their rights to class action lawsuits. So
Speaker 1: what can you do if you don't agree with something
Speaker 1: in these terms and conditions, Well, not much as you
Speaker 1: might expect. Your only remedy is to stop doing business
Speaker 1: with the service if you don't agree with how they're
Speaker 1: using your data. But the good news is the GDPR
Speaker 1: is making that easier as well. The new law says
Speaker 1: companies must offer a way for you to download your
Speaker 1: personal data from them at any time and have your
Speaker 1: information erased from company servers in a timely manner. Now,
Speaker 1: Facebook and Google have had similar tools that do this
Speaker 1: for a while now, and we just saw Instagram launch
Speaker 1: one as well. The new GDPR law goes into effect
Speaker 1: May twenty fifth, so expect to see a bunch of
Speaker 1: emails until then and now, you know, thanks so much
Speaker 1: for listening. If you like this podcast, please leave a
Speaker 1: review on the Apple Podcasts app. That way more folks
Speaker 1: see it. I'm Rich damiro links to everything I talk
Speaker 1: about at my website, richontech dot tv. I'll talk to
Speaker 1: you real soon.