You can just do what my university did, hire a small shell firm with 3 employees to hold all your data, and when it got hacked they just went bankrupt and we switched to a new shell firm with similar form and function.
Minimizes money usage and does not require any security investments
Perfect isn’t required. The bar is “gross negligence”. Perfect is impossible, but proper compliance procedures, proper process, and a commitment to following industry best practice will always see you on the right side of the negligence bar, even if something slipped through the net.
It’s the difference between being a professional and an amateur (or worse, a ‘cowboy’).
Again this is not priced in. Every rational(in terms of revenue) business would rather be a highly profitable "amateur" compared to a barely profitable "professional".
There is no capitalist incentive for the latter, and you will lose market share to firms that can undercut you because of their lower costs.
4% of revenue in the EU, 4% of revenue in the UK, and 10% of revenue in Korea should be enough of an incentive to start caring about how you deal with your customer’s privacy and personal data.
One assumes the rest of the world won’t be far behind, apart from the the corrupt land of the USA which is going backwards right now.
It's only an incentive to start caring if it's cheaper than circumventing the law. In other words it won't work unless the aforementioned liability loophole is closed.
To rephrase the comment you replied to, if being a cowboy is more profitable (by whatever shady means) then that will generally be preferred by the market. Despite whatever sensibilities you or I might have there is no escaping that simple truth of capitalism.
augment_me · · focus · HN ↗
Minimizes money usage and does not require any security investments
louthy · · focus · HN ↗
AIiscoming · · focus · HN ↗
I might suggest a construct like this too.
What do you think how much it cost to do it perfect?
louthy · · focus · HN ↗
It’s the difference between being a professional and an amateur (or worse, a ‘cowboy’).
augment_me · · focus · HN ↗
There is no capitalist incentive for the latter, and you will lose market share to firms that can undercut you because of their lower costs.
louthy · · focus · HN ↗
One assumes the rest of the world won’t be far behind, apart from the the corrupt land of the USA which is going backwards right now.
fc417fc802 · · focus · HN ↗
To rephrase the comment you replied to, if being a cowboy is more profitable (by whatever shady means) then that will generally be preferred by the market. Despite whatever sensibilities you or I might have there is no escaping that simple truth of capitalism.