The first week my team and I started Personal, it was clear to us that we had to have a statement of principles that we would live by internally and be held accountable to by the rest of the world. I don’t mean the mandatory “company values” statement. I mean a fundamentally new set of principles that would govern our every decision; principles based on the conviction that each individual must have the ultimate control, flexibility and benefit of his or her data.
After a thorough review of many good (and not so good) ideas, we agreed on the following:
– Right to data ownership, privacy and economic benefits by individuals
– Transparency in all collection and use of personal data
– Data portability and deletion rights
– Right to simple opt-in and opt-out mechanisms
In the coming weeks, I will explore each of these more deeply and offer early insights into how Personal has built such principles into our products, business model and company culture.
But I want to first share the fact that data portability and deletion rights was especially perplexing when we first debated it. How could we spend all this time investing our time and resources to build such a great platform and innovative business model and just allow people to decide to take their data elsewhere and delete all traces of it on our system?
The answer was simple – we couldn’t find a single compelling argument not to do it. We are building Personal for ourselves and our families and friends as much as anyone, and we all agreed that we would want to be able to pick up and leave if we lost faith in the company for any reason without penalty or friction. Yes, that means, in some ways, we will only be as good as our last pitch, but that is how we believe it should be when it comes to data. Anyone for having your money trapped in a bank you have lost confidence in? Or if you find another bank with far better rates and services? We welcome having to meet such a high standard.