In investing there is the idea of diversifying your risk. Essentially, if you have all your money tied up in one company, and that company fails, you lose your money. It’s better to diversify across companies and markets so that, if one company or country falters, the impact on your investments will be small.
The current setup of digital companies requires us to trust them with our personal information. We are making an investment in them, with our trust. If a company has a monopoly on our trust and something happens that breaks our trust, the results can be very bad. It could be as bad as having your identity stolen. More commonly it is the company collecting information about you that you either werent aware they were collecting, or your werent aware how they were collecting it.
I believe this happens most commonly when a company is very big. For example, Google. They are big enough that they can pay to keep some things quiet. And we’ve heard so much about how large companies have broken our trust.
To combat that I suggest Diversified Trust.
There are so many solutions that do some of what these big monopolies do. A lot of them are pretty cheap and have better functionality. And if one of them breaks your trust, you can more easily move to another service for just that.
Here are some examples of the changes I’ve made.
Services I’ve gotten rid of
- Google Wallet
- Amazon Prime
Services I’ve swapped for others
- Chrome -> Firefox
- Android Phone -> iPhone
- WhatsApp -> Signal
- Gmail suite ( email, calendar, contacts ) -> Fastmail ( with a custom domain )
- Google Play -> Spotify
Services I’m planning to swap for others
- Google Drive -> Dropbox / Open Office / Survey Monkey
- Audible -> One of these probably
- Website Analytics -> Netlify Analytics / Fathom / GoAccess / Matamo / Ackee