The Dark Side of Personalization: How Tech Giants Use Cookies to Build a Profile of Your Interests
We, as consumers, have become accustomed to seeing personalized ads and content on our favorite websites and social media platforms. But have you ever stopped to think about how this magic happens? The answer lies in the world of cookies, those small text files that are deposited on your device whenever you visit a website.
The Use of Cookies
Microsoft, like many other tech giants, uses cookies to store and access information such as unique IDs to deliver, maintain, and improve their services and ads. They use these cookies to personalize the content and ads that you see on their websites, including MSN and Microsoft Bing. However, this personalization comes at a cost. By allowing these cookies to be deposited on your device, you are giving Microsoft and their third-party vendors permission to build a profile of your interests.
How Cookies Are Used in Practice
Let’s take a look at how Yahoo uses cookies on their websites. When you use Yahoo’s sites and apps, they use cookies to authenticate users, apply security measures, and prevent spam and abuse. They also use cookies to measure your use of their sites and apps. However, when you click “Accept all,” Yahoo and their partners, including those who are part of the IAB Transparency & Consent Framework, will also store and/or access information on your device (in other words, use cookies) and use precise geolocation data and other personal data such as IP address and browsing and search data, for personalized advertising and content, advertising and content measurement, and audience research and services development.
Companies like Microsoft and Yahoo use cookies to deliver and personalize ads and content.
The Impact of Cookies on Cryptocurrency Markets
But what does this have to do with cryptocurrency markets? Well, it turns out that the use of cookies can have a significant impact on market sentiment. In the past week, cryptos have dipped ahead of the release of the FOMC minutes, with expectations of a rate cut by the U.S. Federal Reserve. This dip has been compounded by the transfer of 13,265 Bitcoin worth around $784 million by the defunct Bitcoin Exchange Mt. Gox.
The Future of Cookies and Personalization
As we move forward in this digital age, it’s clear that cookies will continue to play a significant role in the way that we experience the internet. But it’s up to us as consumers to be aware of how our data is being used and to make informed decisions about the cookies that we accept. By being mindful of the cookies that we allow on our devices, we can take back control of our online experience and ensure that our data is not being misused.
As we move forward in this digital age, it’s clear that cookies will continue to play a significant role in the way that we experience the internet.
