The latest research from digital marketing firm SRAX shows that 51% of respondents either agree or that their smart home devices spying on them. Around 56% of respondents agree or strongly agree that advertisers should be punished for collecting their data. Kristoffer Nelson, COO of SRAX stated that the main aim of the CCPA was to reign in the power that companies like Facebook have over consumers. However, it will hurt small and midsize companies while empowering the large, data consuming companies it was meant to regulate.
It is estimated that companies will spend $55 billion in 2020 to comply with CCPA, but the law will create a better internet for consumers, and the friction and challenge of compliance will create new opportunities for businesses, as it forces a more transparent and balanced relationship with customers.