i think it's wonderful in terms of data sharing and data gathering. i think one of the things we really have to think about in the future, as we watch with great alarm, as the number of breaches grow in educational institutions exactly how that data is being protected and how that protection is evolving and, also, the rate for parents to be able to opt their children out in certain circumstances. protected? >> well, there are systems at the district level and at the state level. again, that goes back to the data that they collect. i think what you are referring to when you talk about the 10 million data bites is the data that's collected when schools choose to use online services. collected. >> that's not data that schools and districts and states collect and maintain and keep private and secure. >> that's absolutely where our states and districts need to do more work to ensure privacy. >> essentially, they are giving, if nothing else, a de facto right to these companies to have control of this data if the school is not maintaining the data on the kid

your agency has just asked for comments about big data and privacy implications surrounding big data. when the ftc, the federal trade commission, released its big data report, one of its recommendations was for congress to take a closer look at data brokers such as expeer onor, you know, some of these other companies that sell commercial data about consumers like you and me to marketers and other companies. is your view that, you know, congress and other agencies like yourself should take a closer look at data brokers? do they deserve more scrutiny? what -- how should we be responding to these? >> guest: well, first, let me explain our role in privacy. so the president issued his blueprint on consumer data privacy back again in, i think, 2012. included in that was the consumer privacy bill of rights. so the inquiry that we started last week was in light of the white house big data report that came out several weeks ago, we've asked whether or not there are changes or tweaks we ought to be making to the consumer privacy bill of rights. the original construct back in 2012 with respect t

, to acquire some of that data, to use some of that data.the restrictions on how much can be looked at, what it can be used for, what it can be disseminated for how long you can keep it. those are the kinds of things and what the standards are for exley getting it. those are the kind of important questions that will remain subject to a lot of oversight by the executive branch, the justice department, the dni, the fbi, the nsi and there's a specific provision by the courts and by congress because they're still going to be robust reporting to congress on what is done. >> thank you. >> thanks very much senator mikulski. senator rockefeller. >> thank you madam chair. it seems to me that we are doing something unnecessary in unpredictable here which might make the public feel better but which would be not good for national security which is what our job is. it seems to me that we are taking the program that the president is determined to be legal and important as a counterterrorism tool, a program that has audits, inspections, judicial checks con

that data.restrictions on how much can be looked at, what it can be disseminated or, how long you can keep it, those are the kinds of things and what the standards are for getting it. those are the and wharton questions. a lot of oversight by the executive ranch, the justice department, the a the eye, the nsa, ig offices, there is a civic provision to do reviews. still be robust reporting by congress on what is done. let's thank you. life enqueue. -- >> thank you. >> thank you. >> it seems to me we're doing something unnecessary and unpredictable here, which might , butthe public feel better which would be not good for national sick erie. that is what our job is. it seems to me we are taking a program the president determined as a legal, and important, counterterrorism tool -- a program that has audit, tax, andns, judicial other pressure systems built and. program currently in a highly , operated byon highly change professionals who have taken an oath to defend the constitution, and who have liv

everyone has to be trained how to read the data and give the data and use the data. it's nonnegotiable. who is intuitively a great teacher cannot opt out. a code of conduct in extreme situations about how to do that. that is the third tier, the data. .he fourth tier is more time it is not in the schools. in the summers, when little johnny here in the inner-city school -- let's pretend he's the ine as xavier, the white kid a white suburban school. they are equal in the second grade when they graduate in june. they come back in september. the inner-city child is three months behind. three months behind from what they were in june. xavier is one month ahead. they are four months apart. from thehool, messaging they're getting, the stimulations and questions. why is the sky blue? we are constantly teaching our kids all the time. getting atrophied and this group is getting stimulated. the gap is 2/3 of the entire gap that exists from grammar school all the way through high school. it happens in the summer. those are facts. you cannot close the gap without getting into the

data here. and also, today, one of the things that was interested to me was, stories that we heard about oakland, about some really dramatic reductions in disproportionalty not in the district but in certain schools. and so, i am hoping that there are things that we can learn in there about whether or not, we have, it is possible for us to focus even more on, you know if we saw, and i don't, and i remember why we did not want to do that, and if we saw, if there are just a few schools, where most of this is happening and the numbers are so small that we ought to be able to find that out easily and that will help us to decide what kind of source those schools need and so i really appreciate that. and i was glad to hear what you said about the, about delving more into the analysis of what is in the calls. and then, the other question that i have is that as i understood it and as i remember when we started this relationship we, one of the things that was in our policy was that absent some physical t

why is this data so sensitive?anvice's geolocation present a consumers movement in real time and overtime and involves intimate personal details about them, such as a doctors visit, how often they go , their place of worship, and when and what route they're kids walk to school in the morning and return home in the afternoon. this data can be accessed and used in many ways consumers don't expect. for example, collected for stopping apps, sold to third parties for unverified uses, paired with other data to build a profile of consumer activities, or stolen by your -- by hackers. actionmission has taken to protect this data through law enforcement and outreach efforts. using its authority under the ftc act, the commission has brought cases against companies engaged in unfair and deceptive practices involving geolocation data. one example is a recent settlement with snap chat, the development -- developer of a popular mobile messaging app. in that case, the s -- the ftc alleged that in addition to photo and video messag

we need more data. we need to have more countries -- >> what do we need other than more data? >> we need to think more. providing all of this evidence to elicit more ideas and suggestions about the processes that can explain. >> you are being celebrated around the world, number one on amazon. when you come to america, billionaires want to see you. they say you have given more attention to income inequality and the pope or president obama. it is part of their own mantra as to what is important to them to change in the world today. here you come in a book that many say people are going to buy but not read. >> that would be fine. i have heard that before. even have people who actually write about the book without opening it. everybody wants to write. >> reviewers don't read it. >> some read it. some don't. i would be sad if people were to put the book on their shelves. i think it is readable. it is a readable book. it is a story about social income.ehind it is a bit long. that is the only problem. on the other hand, it is about 20 countries over two centuries. but apart from the

why is this data so sensitive? canvice's geolocation present a consumers movement in real time and overtime and involves intimate personal details about them, such as a doctors visit, how often they go , their place of worship, and when and what route they're kids walk to school in the morning and return home in the afternoon. this data can be accessed and used in many ways consumers don't expect. for example, collected for stopping apps, sold to third parties for unverified uses, paired with other data to build a profile of consumer activities, or stolen by your -- by hackers. actionmission has taken to protect this data through law enforcement and outreach efforts. using its authority under the ftc act, the commission has brought cases against companies engaged in unfair and deceptive practices involving geolocation data. one example is a recent settlement with snap chat, the development -- developer of a popular mobile messaging app. in that case, the s -- the ftc alleged that in addition to photo and video mess

>> so, we are working throughout the summer on getting as much data as we can. and if we cannot get it, and all of the data that we need, we still are not going to slow down the efforts in moving the legislation forward, but it will help us guide with that legislation, should look like. >> okay. >> are there other tools that you think that your department or city departments could use to achieve these goals and i am wondering if they are existing goals that you believe have been effective in increasing lb participation or less effective? >> we are doing, and in, it seemed to have and in the puc staff and we are looking at in addition and in the contract and compliance, it is very important tool in that we need to stick with that and we should also look at different programs where we are doing the business development and that has and it went from my, day-to-day interaction with a lot of the lbes and a lot of time, it is, and the technical assistance and the development that helps to keep those lbe contractors here sustained in the city and we may start to look a

mining too much data?k the big issue at the moment for businesses is there is too much data and not enough insight, not enough action from it. i think that is where -- i like the opportunities we have ahead of us as go square. it is taking huge amounts of chartsd not just showing and graphs, but trying to show you what that means to your business and how that compares to the wider world and what are the ultimate actions you can take from it? opportunity is your for this industry going forward, not just to show you pretty and now i'm going to forget about them and see what you're doing anyway. >> that story is not performing well, change the headline, or move the image around. i think that is where things are going, and that is really really fun. >> what is the vision? [laughter] >> the analytics industry and the concept of big data is still in its infancy. i think the real challenge for us and the opportunity for us is to continue to give people much more valuable information and get better at understandin

last week the "new york times" published a rebuttal to much of the data in the book. i am pleased to have thomas piketty at this table the first time. welcome. >> thank you. >> charlie: pleasure. explain the phenomenon about you and this book. >> you know, i tried to write a readable book and readable stories and money. you know, this is a book about the history of money, about the history of income and wealth in over 20 countries over two centuries and i really tried to make it accessible to everyone because this is of interest, you know, not only to economists but to everyone, because behind the story of money, you have not only an economic story but political control, literary story and, you know, i tried to put all of the stories together because -- people have been fighting about economics and this book will not put an end to it but at least they'll know what they're fighting about. >> charlie: it adds fuel to the fire. >> yes, maybe it will lead to a more informed debate. that's the purpose. the purpose is not to make everybody agree, because these are so compli

use and misuse of these data. according to a consumer reports poll from 2012, 65% of consumers were very concerned that smartphone apps could access their personal content, data and location without their permission. a similar poll showed that 82% of those surveyed were very or somewhat concerned about the internet and smartphone firms collecting their information. this should not be surprising. up like location data gained from a nonmobile device such as a desk top computer, data from mobile phones is inherently personal and can be used to learn and possibly disclose information that in many cases consumers would rather be kept private. justi justi justi justice sotamayor noted -- this consent amok consumer and privacy advocates and consumer and government agencies such as the gao and ftc we just heard from a moment ago is that there is no adequate legal frame works protecting location data in the current and ever evolving mobile ecosystem. absent such a frame work, consumers must rely on business to adhere to co

the way personal data is collected is by big data companies who, data brokers, who will harvest as much as they can, which is not given with consent, and they will take lots of unstructured data and try to jam it together. company thinks that i live in texas because i went to sxsw. because it is collected from a lot of different places, it is not accurate. but it is out there. it is early days for the internet. if youbelieve is -- take the information yourself, curate start to self that information. >> we as individuals can be better. >> choosing what we decide to sell to amazon and to the retailer. >> is the information that is pertinent to you, that you want to share. why the internet is free, because we are paying with our data? look, they provide an amazing service. and they are up for by advertising, which is fantastic. the way they collect information is really inefficient. they give up tens of billions of dollars wasted by advertisers a year. advertising using this data, they are miles away from using this stuff effectively. miles and miles. you listen to what is coming out of ca

, to acquire some of that data, to use some of that data. the restrictions on how much can be looked at, what it can be used for, what it can be disseminated for, how long you can keep it, those are the kinds of things -- and what the standards are for actually getting it. those are the kind of important questions that will remain subject to a lot of oversight by the executive branch, the justice department, the dni, fbi, nsa, the ig's offices, there's a specific provision for the doj ig to do reviews, by the courts, and by congress because there's still going to be robust reporting to congress on what is done. >> thank you. >> thanks very much, senator mikulski. senator rockefeller. >> thank you, madam chair. it seems to me that we're doing something unnecessary and unpredictable here which might make the public feel better, but which would be not good for national security. which is what our job is. it seems to me that we're taking a program that the president has determined to be legal, and important, as a counterterrorism tool. a program

and netflix has said that verizon ought to treat that data just like it treats any other kind of data that comes to its door. that it should open up the door and allow the data to move through. net -- verizon says netflix should pay for the extra connections it needs when there's a surge son-in-law of data moving through verizon's network. this is information that's not visible to consumers as nebutrality. a lot of the companies involved in this space have suggested that maybe these are related issues. the f.c.c. has said no, these are separate issues. what's your take on this and shouldn't net neutrality and interconnection be considered as one in the same? >> i think if we're going to be evaluating at what the consumer experience is we have to take a look at that? what do we mean by web neutrality or interconnection, i'm not going to speculate on that but it does seem important to look at the entire network of connections in order to understand whether or not the consumer is experiencing congestion and the experience they have at their home or business in. that sense i do think taki

we talk about privacy in the age of big data. it is quote the money of an end of the phone with a publisher, the publisher is sweet, our second book was then and there with us tonight selling the book. and they said i don't think consumers care about that at all. we will have a hard time selling this book. >> they were very nice. not this. and we have been so concerned about this and here are the things we are concerned about so i talked about a couple things and they reluctantly agreed to let us write the book so we are coming up on our first deadline where everything is done and turned in. the boston marathon bombing happened, there was a little crowd sourcing going on in big data to try to figure out who did what and how to apprehend the culprit. we pulled the book back to talk about how big data didn't stop something from happening but it sure helps with the case. we are now wrapping it up and ed snowden's revelations come out and we go back to the publisher and said we need to pull the book back again so it is just a passing

and we are really excited to be here and to witness the report on this data. and as one of the community groups that was involved in the process of of getting the mou approved, we are just really excited to see the process starting and we are going to be excited to continue monitoring it and every couple of months as this information keeps coming back to you. and the part that concerns us the most is that the data is not broken out by school sites. when i see that the only students who are being arrested are african american or the kids with spanish sur names that makes any think that we are not making the progress, when the same groups of students are being targeted for arrest and not access to the classs that they need to graduate it is a reoccurring trend within the school district and hopefully we can see some progress made over the next couple of months to kind of remedy that. and i am really interested to know what the board plans to do to address the fact that the majority of the student arrested in the sfusd are african american and they are one of the

i look at that empirical data. i also look at the anecdotal data. and i'm sure you, like i, have conversations about the equity markets with your friends and family. i grew up down the road here in pg county. when i go back home, people ask me, what's going on in the equities markets. tell me about these high frequency traders. and there is a sense, you know -- it's unfortunate, but there's a sense that, boy, we don't have as much confidence in the markets as we once had, which is why we as the new york stock exchange, from the moment i.c.e. agreed to acquire the new york stock exchange, what can we do to increase confidence and simplify the markets. as simple as you can make the -- to inspire confidence you want to make the market as simple as you possibly can and as transparent as you possibly can. >> and free of conflicts of interest as you possibly can? >> yes. >> mr. brennan, your main business is investment management, and you offer mutual funds and other investment opportunities for your customers. do you believe that maker-taker pricing crea

gained fromion data a desktop computer, data from mobile phones is inherently personal and can be used to disclose information that in many cases consumers would rather be kept private. some ofotomayor this up perfectly -- sound this up perfectly. disclosing gps data will be trips to the psychiatrist, the plastic surgeon, the abortion theic, the strip club, criminal defense attorney, the by the hour motel, the mosque, the synagogue, the church, a gay bar. the consent -- the consensus among advocates and government agencies is that there is no adequate legal framework to protect consumer location data in the current and ever evolving mobile ecosystem. absent such a framework, consumers must rely on business to adhere to a variety company policies and his -- and industry best practices. is necessary and will help to protect sensitive information that consumers use, such as location data. it would do just that, this bill would establish a level playing field for businesses that seek to collect and share location data. it would help to restore consumer trust and ensure that the many benefi

in algorithms and creepiness will call him big data daddy big daddy. big daddy knows what you search for online where you write in your emails where you buy with your credit cards the radio stations you listen to most what medical condition you last googled google what are the symptoms of low to no rickets no low tech and with all that data big daddy comes to know more about you than you know about yourself the next time you search for cough and cold symptoms online big daddy inundate you with ads for robitussin because that one time you ordered three gallons of the supper crazy weekend in ocean city oh yeah. or the next time you buy scented wife said target big daddy says congratulations you're pregnant. or the time you thought you wanted to watch the bourne identity but big daddy said no you know like not even the movies you like woody allen movies all because you get your end from upstate new york your netflix password for the weekend and she sends watch vicky cristina barcelona eighteen times and you try to explain to big daddy that there's a flaw

why is this data so sensitive? a device's geolocation can reveal consumers movements in real time and over time and thus develop inlt matt personal details about them, such as the doctor's office they visit, how often they go, their place of worship and when and what route their kids walk to school in the morning and return home in the afternoon. this data can be accessed and used in many ways consumers don't expect. for example, collected through stalking apps, sold to third-parties for unspecified uses, paired with other data to build profiles of consumers activities or stolen by hackers. can result in unwanted tracking to stalking. using its authority of the ftc act, the commission has brought cases against companies engaged in unfair and deceptive practices involving geolocation data. one example is our settlement with snap chat, the developer ofa a popular mobile messaging app. in that case, the ftc alleged that in addition to representing that photo and video messages sent through the service would disappear,

professional services side that might be just -- it's more data, but i think it's useful data on a per project basis or we could sort it in some way. >> i would agree. and just respond on that, we've seen that now for most projects as we requested that so now we've seen those percentages by project. i might propose, and maybe you don't need that on paper, maybe it could just be by projects, sort of like how you have this lovely table here by project summary. maybe just having another table by project for contractors. i think that's what you're saying. maybe making a way to not have full book form because we see a lot of the data per project. >> i think we can find a way to provide you that information without having it be -- >> okay. >> -- [inaudible]. >> all right. i'd like to ask a quick question on the work force. now, i know that our work is different and distinct from the city's, but did i understand the mayor's office of housing and community and development does not apply 14b to their -- >> well, most certainly. the mayor's office of housing and community development does apply

we collect all this data. the social security administration has the capacity to provide a lot of information. if part of the problem is student financial burdens, shouldn't the students know at least what is the probability they're going to earn a certain amount of money when they graduate? and so i think information bills are fortunate. i think they're low cost. they are consumer friendly. markets work better when there's more information around, by all parties. and i think the efforts that you and senator rubio and senator warner and others are making is one of the few positive developments in this area right now. >> i want to let senator murray have a chance to summarize, because we're going to have a vote in a minute. i'm something of a privacy hawk around here. i see that with the nsa and a whole host of other issues. so we have tried very hard to have significantly stronger privacy protections than you have today under a variety of these programs. and my last request, ms. jones, i followed your good wor

with that data and historickal data from sensor we is k see what occupancy and on a typical day, during any given period of time, we ski what the actual revenue for the meters would be. that would be one thing to inform what the right price might be for special events. >> thank you. >> thank you again and join director brinkman in thanking the entire group and look forward to going forward >> when do you think director reiskin we can expect on how we'll expand this sfpark approach and what is that going to look like? i know nobody has answers and i'm not a parking expert, but it would be nice to have some sort of timeframe about we expect to hear about that? >> i think later this year, sometime in the fall we'll come back with recommendations for next steps. >> good. >> thank you very much. >> thank you. >> item 14. >> actually, just so you know, there is no member of the public who indicated an interest in addressing you on this item. item 14 authorizing the director to execute a gift and license agreement with david wiggins and jay primus for the donation of a new transit map for the

what is astonishing is the sheer breadth of their data collection and data practices.t's happening here is that all of us as we shop online, as we browse the web, whenever we post to social networks, we will be leaving the general bread crumbs these companies are scooping up and aggregating also with offline public information. >> brown: well, what's the problem? for many of us, a lot of this data, well, it helps us, right? it sends us to the right places. we use a lot of it ourselves for our shopping habits. what's the problem? >> let me emphasize that the data brokers collect the information, they share the information and sell it to other companies who use it for a variety of purposes. i want to highlight that there are very beneficial purposes for these products but they also raise privacy concerns and that's what we're concerned about at the f.t.c. >> brown: give us an example. i mentioned in the introduction some of these categories and labels. how are they used to harm people? >> so just so that it's clear, what's happening is these companies are aggregating bil

general data. it's not specifics about what is injected and when. >> it's not specific enough to when asked to tie an earthquake or series of earthquakes. >> and safe water drinking act that is the only regulation that requires reporting. >> it's the basis of safe water drinking act. and most the epa delegated to the states and the states may or may not add additional requirements. >> we probably need more federal requirements about specific data? >> in order to make a progress on the research and the hazard assessment of the phenomena, either the federal government or the states need to consider that a priority to collect more precise data an the injection activities and make them available in more timely manner. >> i think the chairman observes my time is up. >> as we stated earlier, the full committee chairman is here. representative casings of washington. we'll hear his statement and conclude it representative hastings. >> thank you, mr. chairman. thank you for holding this hearing. i apologize

it's very hard to get data to do the analysis. we were very lucky to find this data. that $.30 onnt orders is a tiny amount -- you have given a strong answer in response to that in terms of the orders that are not filled. a. katzuyama, you have given strong answer to that as well. $.30's add up to hundreds of dollars. >> yes, they do. it will see a marked difference at the aggregate. >> mr. katzuyama? >> a big revenue source for the brokers? >> yes. some brokers. some programmers end up paying the high take fee. that take fee is subsidizing payments to other players. some are hurt worse and some benefit. >> thank you. back and really explore what is happening, what type of harm could be happening. $.25you are talking about trades that are not executed -- can you describe to me the volatility of that, what is being missed? are those traits because people are putting in stock orders and saying, i will buy stock at this price? >> you have people that may be place an order before they go to work and say, i want to buy 100 shares of stock at 20. it's a standing order. in o

those could be in collection of data, storage, analyzing or initializing the data.amazing some of statistics. only five percent of the companies were looking to analyze the data. that must've excellenscalated. are companies aware of how much they need to be embracing this? market's probably split in two. where we are seeing a lot of consumption is big enterprise companies which have huge data sets. and every single company we invest in today is realizing the value of the data they are producing but they are not necessarily big data companies. >> let's talk about some of the companies you are investing in in. million pounds0 under management. what are the key companies knocking on your door looking for start up money to start building their products in london? on technology week is an amazing initiative because there are so many exciting things going on. we are one of the most active investors in the u.k. so a couple of examples. a a company called masabi which has mobile train ticketing software. if you buy a train ticket on your mobile, is likely to be to their sof

if you put the trade data and you are looking at the social media data, is that because you have to be a guy who gives a, takes an order down and the company goes bankrupt in the interim, is a guy that really hurt his business. >> exactly. you see, customers today, they want all the foundational data we have given them. the stuff your dad looked at. >> yeah. >> they increasingly want modern data sets. they want social as well. for us, it's about structured and unstructured data, unstructured meaning social and signal data, making that available. it's not just about risks. a lot of our customers are using this data for sales and marking purposes. >> right. >> fully a third of our business is in sales and marketing solutions, they're using this data to get information about the customers they should be pursuing. >> you have partnership, sales force, these are important, i imagine, do your people, can they download a particular app if they work for you? and then dial into? >> so with our line strategy, best companies like sales force, et cetera, we are making our data natively. if you are

fast forward, i'm thinking about the data being collected by us. a lot of times people get focused on the government, and the government just scratches the surface. the it's business. and they need to do it so that they can make money, so they can know you better, so they can offer you valued products, so they can get the next cure for a disease, so they can patent, you know, the heart fix that my daughter got a cup co-- couple years ago. so we need big data, and we need this information, but it's woefully underprotected. so when i talked to ted about this book, my focus was how do i write a guide for consumers and businesses with ted's brilliant legal mind helping, you know, really understand and navigating where the laws leave off and where the laws help, but how do i write a guide for you whether you're a business owner, a business executive or a consumer that you can read, be informed, engaged, maybe enraged. if you're not enraged at some points during the book, i didn't do my job on my pieces. ted did his job. and then also that you could actu