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Illustration: Sarah Grillo/Axios

The grand bargain of the digital age, in which consumers have traded their data for free services, is coming apart. And it may be too late to regain control of the personal data that's been bought, sold and leaked all over the web for the past three decades. 

Why it matters: If information is power, our lackadaisical approach to safeguarding details about our lives has made a handful of companies more powerful than we ever expected, and it's made consumers more vulnerable than ever.

  • A majority of Americans (64%) say they have personally experienced a major data breach, according to Pew Research Center.
  • Americans listed privacy of data as the top priority companies should address, beating issues like poverty and gun violence, according to the Axios-Harris Poll 100.

Here's what it's come to:

The big picture: A reckoning is underway. Major tech companies have announced sweeping changes to their businesses, with privacy — or at least their own versions of privacy— in mind.

  • Just this week, Facebook CEO Mark Zuckerberg said the company will rebuild all its services and apps around several privacy-focused principles, a major departure from how the company has positioned itself for the past decade.
  • New online models that prioritize more data control are beginning to take shape, like innovative data storage and transfer mechanisms and new ways of thinking about data ownership and portability.

Yes, but: The reckoning will happen slowly, and few people have said they'd be willing to pay to access services.

  • The majority of respondents in an Axios/SurveyMonkey poll say they're unlikely to pay for a company to not track their personal data.
  • Business models are cemented around the capture and trading of personal information, and consumers are still hooked on the free, real-time services they get in exchange for that data.
  • Surprisingly few consumers are taking meaningful action to restrict access to that data, or even read privacy policies. There's also no clear way for consumers to see how their data is priced and bartered.

Be smart: Giving consumers more control of their data also means they'd have to take more responsibility for it and actively manage it, like managing financial accounts. And there's going to be a lot more to manage over time.

What’s next: In 2025, each connected person will have at least one data interaction every 18 seconds — or nearly 5,000 times per day, according to a recent IDC white paper.

  • Somebody's going to benefit from all that information.

Go deeper:

Go deeper

European Super League faces collapse after English soccer teams quit

Fans of Chelsea Football Club protest the European Super League outside Stamford Bridge soccer stadium in London, England. Photo: Rob Pinney/Getty Images

The European Super League announced in a statement Tuesday night it's "proposing a new competition" and considering the next steps after all six English soccer clubs pulled out of the breakaway tournament.

Why it matters: The announcement that 12 of the richest clubs in England, Spain and Italy would start a new league was met with backlash from fans, soccer stars and politicians. The British government had threatened to pass legislation to stop it from going ahead.

Corporate America finds downside to politics

Illustration: Annelise Capossela/Axios

Corporate America is finding it can get messy when it steps into politics.

Why it matters: Urged on by shareholders, employees and its own company creeds, Big Business is taking increasing stands on controversial political issues during recent months — and now it's beginning to see the fallout.

Church groups say they can help the government more at border

A mural inside of Casa del Refugiado in El Paso, Texas. Photo: Stef Kight/Axios

Despite the separation between church and state, the federal government depends upon religious shelters to help it cope with migration at the U.S.-Mexico border.

Why it matters: The network supports the U.S. in times of crisis, but now some shelter leaders are complaining about expelling families to Mexico when they have capacity — and feel a higher calling — to accommodate them.