"Cost externalizing is a socioeconomic term describing how a business maximizes its profits by off-loading indirect costs and forcing negative effects to a third party. An externalized cost is known to economists as a negative externality."
Here's our culprit. There IS financial pain but most of it is externalized onto the customers in unseen ways. What is it worth to someone to compromise a specific Zoom meeting? Add up all of the tangible and intangible losses Zoom customers have suffered from data leakage and there is the real cost in the market.
The price Zoom pays to fix another bug, maybe write a blog post, and have a few accounts closed is a small fraction of this full cost to society.
This is probably the strongest argument for regulation such as GDPR.
Here's our culprit. There IS financial pain but most of it is externalized onto the customers in unseen ways. What is it worth to someone to compromise a specific Zoom meeting? Add up all of the tangible and intangible losses Zoom customers have suffered from data leakage and there is the real cost in the market.
The price Zoom pays to fix another bug, maybe write a blog post, and have a few accounts closed is a small fraction of this full cost to society.
This is probably the strongest argument for regulation such as GDPR.