Bynamite idea!

This New York Times link about a start-up that proposes to pay users for their personal information might be hidden by tomorrow, so I'm cherry-picking quotes here:

“Our view is that it’s not about privacy protection but about giving users control over this valuable resource — their information,” Mr. Yoon said.

...

Every search on Google, Mr. Acquisti notes, is implicitly such a transaction, involving a person “selling” personal information and “buying” search results. But people do not think about, or are unaware of, the notion that typed search requests help determine the ads that Google displays and what its ad network knows about them.

Bynamite, Mr. Acquisti said, is “simply trying to make these kinds of transactions explicit, more transparent to the user."

...

In essence, the company has a libertarian, free-market ethos. If consumers have more power and control, it says, personal information should flow more efficiently to the benefit of both consumers and advertisers, who will be able to more accurately aim their ads.

...

IF Bynamite gains momentum, Mr. Yoon predicts that individuals will be able to use their portfolios of interests as virtual currency. He calls the idea a “consumer’s preference wallet.

I've said several times that Facebook can have, resell, and use my personal info for the low, low price of $20. Let's make it $25 because I'm a good capitalist.

That number should be way higher, because Zuckerberg knows they're making way more than $25 off each user. But I like to play nice, and thanks to scarcity rules, I don't have a lot of bargaining power. So 25 bucks for my name, email address, and marketable interests. I've never heard or read on the whole wide Internet anyone else making that kind of claim, and I'm surprised about it.

I normally acquiesce to charges of curmudgeonly behavior. I'm not proud of it, but sometimes it's accurate. But this quirk doesn't belong in that category. This is one of those rare instances where I'm right and everyone else is wrong for some reason.

You should expect a cut of the money when someone uses a resource you provide. I doubt this will be a pure, beautiful, cash-based transaction that I want. But it shows me I'm not completely alone in my thinking.

The new free lunch

Yesterday at my favorite burrito chain, Qdoba, I was musing to M about whether a completely ad-run restaurant could work. I'm paying $6 for a burrito. I don't know much about restaurant margins... they're thin I hear... but how expensive is it to make that burrito? Ingredients, hired help, rent, blah blah... what are we talking, an amortized three bucks each? Let's say $3.

This particular Qdoba is located near a bunch of expensive universities. Haverford and St. Joe's kids are in there all the time; Penn isn't too far away as the crow flies. That is juicy marketing target -- young AND moneyed.

If you could guarantee delivery of rich college eyeballs, how much would a well-targeted advertiser pay? Would they pay $3 per impression? Would five advertisers pay $.60 each?

What if you made your customer fill out a survey for their free food too? Wouldn't some marketing firm love to have that steady stream of data? They'll pay more than $3 a pop to get these peoples' opinions in other venues, right?

Then sell space on some tasteful wall posters, sell the tray liner space... as long as you don't get greedy and sell every ceiling tile, you could make this work.

The food would have to be good. You couldn't ever let food quality drop. But otherwise, this seems like it would make at least as much profit as a regular burrito joint. There must be some reason why this hasn't been tried yet, right?

Then, that very same day, I see this: Panera: Pay What You Can Afford.

“Take what you need, leave your fair share,” says a sign at the entrance of the Saint Louis Bread Company Cares Café. Patrons who can’t pay are asked to volunteer their time.

The café, which reopened Sunday as a nonprofit, has cashiers who provide receipts with suggested prices and direct customers to the store’s five donation boxes. The menu is the same, except for the day-old baked goods brought in from sister stores in the area.

“I’m trying to find out what human nature is all about,” Ron Shaich, who stepped down as Panera’s CEO last week but remains as chairman, told USA Today. “My hope is that we can eventually do this in every community where there’s a Panera.”

Not quite the same thing, but maybe one better.

I am two metaphors for the economy

I am the canary in the coal mine of American jobs. As a serial freelancer and contract worker, I am the first one down when unemployment gas leaks out.

Happily, lately, I've been finding jobs again. If you're not clear how the economy's doing, ask me if I've got a job. It's a telling pixel of what's on the bigger screen.

I was at the local Family Dollar store today, and this sign accosted me:


I'm a terrible eater, and even I was horrified to think of trying to make a meal out of the products shown there.