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Google, Facebook,.. corporate tax and European citizen privacy

These last 2 weeks, I started to look again at a business idea that roams on the back of my mind for the last few months. You know I love to focus on BIG opportunities, even (and maybe because) they appear very difficult to grab. So bear with me, while I tell you the story. It may sound a little complicated, but I smell something good here. Context :

  • Google, Amazon, Facebook & co (aka GAFAMs) are "optimizing" (or cheating – as you'd like to see it) on corporate taxes, for ex. by hosting their European headquarters in tax friendly countries (eg. Ireland, Netherland, Luxembourg..). UK, Germany, France, Italy,.. are left to rely on courts, or bilateral negotiation to recoup hundreds of millions $ per year (see this for ex).

  • At the same time, Europeans (led by Germans) are worried about their personal data privacy, and how governments, or GAFAM are using it. They'd love to see who does what with it, so they can get back some level of control.

Startup idea : Wouldn't that be nice that you could actually control your own personal data, and decide what to share with who (eg only my age and gender with Facebook, only my browsing history with Google,..) with a simple web dashboard? And wouldn't that be nice for European Governments to rely on this (how much global Internet companies use from your personal data) as a tangible basis for taxation (vs the profit they consolidate in the European headquarter of their choice) ? Now, if you heard about the "Block chain", the technology powering the Bitcoin, you are seeing me coming.. If this is new to you, then have a look at why prominent people believe this will be a revolution with as much potential as the internet itself, for many business models who used to rely on a trusted party (e.g. a bank) So who wants to take this challenge ?! I know it's heavy on legal and on tech, so I'll provide more support than usual on this one.

#gafam #tax #privacy #blockchain

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