I grew up in the late '70s in rural China
during the final years of my country's pursuit of absolute equality
at the expense of liberty.
At that time, everybody had a job,
but everyone was struggling.
In the early '80s, my dad was an electrician,
and my mom worked two shifts in the local hospital.
But still, we didn't have enough food,
and our living conditions were dismal.
We were undoubtedly equal --
we were equally poor.
The state owned everything.
We owned nothing.
The story I'm going to share with you is about my struggles
of overcoming adversity
with my resilience, grit and sheer determination.
No, I'm just kidding, I'm not going to do that to you.
(Laughter)
Instead, I'm going to tell you,
what I'm going to talk about today is about a new form of collective poverty
that many of us don't recognize
and that urgently needs to be understood.
I'm sure you've noticed that in the past 20 years,
that asset has emerged.
It's been generating wealth at a breakneck pace.
As a tool, it has brought businesses deep customer insights,
operational efficiency
and enormous top-line growth.
But for some,
it has also provided a device to manipulate a democratic election
or perform surveillance for profit or political purposes.
What is this miracle asset?
You've guessed it: it's data.
Seven out of the top 10 most valuable companies in the world are tech companies
that either directly generate profit from data
or are empowered by data from the core.
Multiple surveys show
that the vast majority of business decision makers
regard data as an essential asset for success.
We have all experienced how data is shifting this major paradigm shift
for our personal, economic and political lives.
Whoever owns the data owns the future.
But who's producing the data?
I assume everyone in this room has a smartphone,
several social media accounts
and has done a Google search or two in the past week.
We are all producing data. Yes.
It is estimated that by 2030, 10 years from now,
there will be about 125 billion connected devices in the world.
That's an average of about 15 devices per person.
We are already producing data every day.
We'll be producing exponentially more.
Google, Facebook and Tencent's combined revenue in 2018
was 236 billion US dollars.
Now, how many of you have received payment from them
for the data you generate for them?
None, right?
Data has immense value but is centrally controlled and owned.
You are all walking raw materials for those large data companies,
but none of you are paid.
Not only that,
you're not even considered as part of this equation for income.
So once again,
we are undoubtedly equal:
we're equally poor.
Somebody else owns everything, and we own nothing.
Sounds familiar, doesn't it?
So what should we do?
There might be some clues in how my life turned out
after that difficult start.
Things began to look up for my family in the '80s.
The system evolved,
and people began to be allowed to own a piece of what we created.
"People diving into the ocean,"
or "xia hai," the Chinese term,
described those who left state-owned enterprise jobs
and started their own businesses.
Private ownership of a business
became personal ownership of cars,
properties, food, clothes and things.
The economic machine started rolling,
and people's lives began to improve.
For the first time,
to get rich was glorious.
So in the '90s, when I went to study in Chengdu in west China,
many young individuals like myself
were well-positioned to take advantage of the new system.
After I graduated from my university,
I cofounded my first business and moved to Shenzhen,
the brand-new special economic zone that used to be a fishing village.
Twenty years later,
Shenzhen has become a global innovation powerhouse.
Private ownership was a form of liberty we didn't have before.
It created unprecedented opportunities for our generations,
motivating us to work and study incredibly hard.
The result was that more than 850 million people rose out of poverty.
According to the World Bank,
China's extreme poverty rate in 1981, when I was a little kid, was 88 percent.
By 2015, 0.7 percent.
I am a product of that success,
and I am very happy to share that today, I have my own AI business,
and I lead a very worldly and dynamic life,
a path that was unimaginable when I was a kid in west China.
Of course, this prosperity came with a trade-off,
with equality, the environment and freedom.
And obviously I'm not here to argue that China has it all figured out.
We haven't.
Nor that data is fully comparable to physical assets.
It is not.
But my life experience allowed me to see what's hiding in plain sight.
Currently, the public discourse
is so focused on the regulatory and privacy issue
when it comes to data ownership.
But I want to ask:
What if we look at data ownership in completely different ways?
What if data ownership is, in fact,
a personal, individual and economic issue?
What if, in the new digital economy,
we are allowed to own a piece of what we create
and give people the liberty of private data ownership?
The legal concept of ownership is when you can possess,
use, gift, pass on, destroy
or trade it or sell your asset
at a price accepted by you.
What if we give that same definition to individuals' data,
so individuals can use or destroy our data
or we trade it at our chosen price?
Now, I know some of you might say,
"I would never, ever trade my data for any amount of money."
But that, let me remind you, is exactly what you're doing now,
except you're giving your data away for free.
Plus, privacy is a very personal and nuanced issue.
You might have the privilege to prioritize your privacy over money,
but for millions of small business owners in China
who can't get bank loans easily,
using their data to gain rapid loan approval from AI-powered lenders
can answer their more pressing needs.
What's private to you
is different from what's private to others.
What's private to you now
is different from what was private when you were in college.
Or, at least, I hope so.
(Laughter)
We are always, although often subconsciously,
making such trade-offs
based on our diverse personal beliefs and life priorities.
That is why data ownership would be incomplete
without a pricing power.
By assigning pricing power to individuals,
we gain a tool to reflect our personal and nuanced preferences.
So, for example, you could choose to donate your data for free
if a contribution to a particular medical research
is very meaningful for you.
Or, if we had the tools to set our behavior data
at a price of, say, 100,000 US dollars,
I doubt any political group would be able to target
or manipulate your vote.
You control. You decide.
Now, I know this sounds probably implausible,
but trends are already pointing to
a growing and very powerful individual data ownership movement.
First, start-ups are already creating tools
to allow us to take back some control.
A new browser called Brave
empowers users with "Brave Shields" -- they literally call it that --
by aggressively blocking data-grabbing ads and trackers,
and avoid leaking data like other browsers.
In return, users can take back some bargaining and pricing power.
When users opt in to accept ads,
Brave rewards users with "basic attention tokens"
that can redeem content behind paywalls from publishers.
And I've been using Brave for a few months.
It has already blocked more than 200,000 ads and trackers
and saved hours of my time.
Now, I know some of you interact with your browser
more than with your partners, so --
(Laughter)
you should at least find one that doesn't waste your time and is not creepy.
(Laughter)
Do you think Google is indispensable?
Think again.
A search engine is indispensable.
Google just has the monopoly --
for now.
A search engine called DuckDuckGo doesn't store your personal information
or follow you around with ads
or track your personal browsing history.
Instead, it gives all users the same search results
instead of based on your personal browsing records.
In London, a company called digi.me
offers an app you can download on your smartphone
that helps to import and consolidate your data generated by you
from your Fitbit, Spotify,
social media accounts ...
And you can choose where to store your data,
and digi.me will help you to make your data work for you
by providing insights that used to be exclusively accessible
by large data companies.
In DC, a new initiative called UBDI, U-B-D-I,
Universal Basic Data Income,
helps people to make money
by sharing anonymous insights through their data
for companies that can use them for market research.
And whenever a company purchases a study,
users get paid in cash and UBDI points to track their contribution,
potentially as much as 1,000 US dollars per year
per their estimation.
UBDI could be a very feasible path for universal basic income
in the AI economy.
Further, individual awareness of privacy and data ownership
is growing fast
as we all become aware of this monster we have unleashed in our pocket.
I'm a mother of two preteen girls,
and trust me,
the single biggest source of stress and anxiety as a parent,
for me, is my children's relationship with technology.
This is a three-page agreement my husband and I make them sign
before they receive their first [mobile phone].
(Laughter)
We want to help them to become
digital citizens,
but only if we can make them become smart and responsible ones.
I help them to understand what kind of data should never be shared.
So if you Google me,
in fact -- actually, sorry -- if you DuckDuckGo me,
you will find maybe a lot about me and my work,
but you may find no information about my daughters.
When they grow up,
if they want to put themselves out there, it's their choice, not mine,
despite that I insist they're the most beautiful,
smartest and most extraordinary kids in the world, of course.
And I know many people are having similar conversations
and making similar decisions,
which gives me hope
that a truly smart data-rich future will be here soon.
But I want to highlight the Clause 6 of this agreement.
It says, "I will never, ever search for any information online
if I would be embarrassed if seen by Grandma Dawnie."
(Laughter)
Try it. It's really effective.
(Laughter)
Throughout history,
there has always been a trade-off between liberty and equality
in the pursuit of prosperity.
The world has constantly been going through the circle of wealth accumulation
to wealth redistribution.
As the tension between the haves and have-nots
is breaking so many countries,
it is in everyone's interest,
including the large data companies,
to prevent this new form of inequality.
Of course, individual data ownership is not the perfect nor the complete answer
to this profoundly complex question
of what makes a good digital society.
But according to McKinsey,
AI will add 13 trillion US dollars of economic output in the next 10 years.
Data generated by individuals will no doubt contribute
to this enormous growth.
Shouldn't we at least consider an economic model
that empowers the people?
And if private ownership helped to lift more than 850 million people
out of poverty,
it is our duty
and we owe it to future generations
to create a more inclusive AI economy
that will empower the people in addition to businesses.
Thank you.
(Applause)