Has Nick Clegg, Facebook\u2019s vice-president, global affairs and communications, stated the obvious? Data isn\u2019t oil, he reportedly said last week. This wouldn\u2019t have made news had the analogy of data and oil not been so popular in India. The big difference, Clegg pointed out, was that while oil is finite, data isn\u2019t. Hoarding it within a country\u2019s borders, he argued, was not a good idea. Instead of localizing consumer data, he would rather have unrestricted cross-border flows of it in the general interest of everyone.<\/p>\n
The original formulation of data as \u201cthe new oil”, however, was not about finitude. When data maven Clive Humby first made that assertion, he simply meant that data is to the digital era what oil was to the industrial age. These days, it refers to the market power at the disposal of a dominant player, one that\u2019s in a position to control its flow to its advantage. <\/p>\n","protected":false},"excerpt":{"rendered":"
Has Nick Clegg, Facebook\u2019s vice-president, global affairs and communications, stated the obvious? Data isn\u2019t oil, he reportedly said last week. This wouldn\u2019t have made news had the analogy of data and oil not been so popular in India. The big difference, Clegg pointed out, was that while oil is finite, data isn\u2019t. Hoarding it within a country\u2019s borders, he argued, was not a good idea. Instead of localizing consumer data, he would rather have unrestricted cross-border flows of it in the general interest of everyone. The original formulation of data as \u201cthe new oil”, however, was not about finitude. When […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-291989","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/291989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=291989"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/291989\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=291989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=291989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=291989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}