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It is what it is.

—mantra spoken by numerous Cisco Inc. employees, San Jose, CA1

If I could change the world.

—“Change the World,” Tommy Sims, Gordon Kennedy, and Wayne Kirkpatrick (famously recorded by Eric Clapton)

Let us begin with a series of stipulations.

First: The Internet is not going to go away and ‘it is what it is.’ The business model based on banner advertising that supported the static, non-interactive, Web 1.0 Internet did not produce sufficient revenue to drive profit, investment, and runaway innovation. The business models based on targeted marketing and advertising that support the interactive, Web 2.0 Internet produce significant revenues that support the continued development and improvement of the Internet. Further, many of the operations that utilize the Internet can claim a variety of legal protections afforded to businesses and news gathering/disseminating operations that insulate them from wanton and reckless government intervention. Similarly, none of the following business segments are going to fold up their tents and go away: credit card providers, mobile phone services, corporate loyalty card issuers, or manufacturers of IoT devices and network infrastructure operations for the IoT. These companies ← 141 | 142 → ‘are what they are’ and data about customers are important aspects of, and contributors to, their business models.

Second: Targeted marketing and advertising currently depend on the collection of personal data in ways that require overly invasive and inadequately...