Trading your identity for $5 electronics

Here’s a quick bit to get you thinking about the value of identity and the risks of sharing too much.

Recently, I was exiting Union Station in downtown Chicago. I’m a train commuter Monday through Friday, so just like thousands of others, we come streaming out of the station in the morning on our way work. It’s crowded – a herd of migrating workers moving briskly who rarely stop until they reach their destination.

The large crowds are appealing to marketers looking to promote their new product. It’s not uncommon to find a handful of people just beyond the train station exit passing out coupons or product samples hoping to get the attention of potential customers and promote their brand. Usually it’s a coupon for free coffee, a new brand of granola bar, or the latest energy drink.

Recently I noticed something different. There was a table setup with a spread of nice looking electronics. There were Bluetooth speakers and wireless ear buds. Prized possessions of many of the folks that were streaming out of the station. And they were giving them away for FREE…

“Free Bluetooth speakers for Comed customers!”, a marketing rep shouted.

If you’re not from the Chicago area, Comed is who you likely pay for your electricity. It wasn’t Comed passing out the gadgets though, it was a company called xxEnergy (name changed). xxEnergy is an energy supplier meaning that they can sell you electricity, but Comed still provides the service to your home.

“Due to the deregulation of the energy market, you can choose your energy supply company, just as you can with cable providers, phone companies, and other service providers.”

I don’t know anything about xxEnergy; this post isn’t about them. And I’m sorry if this post is a bit boring so far, but here’s what caught my attention and the reason I’m writing about it.

As I was passing by, I overheard the rep speaking with one of the commuters.

“Do you know the name on your account?” “…and what are the last four of your social?”

That was one lucky commuter. Only a few bits of info standing between them and a new pair of wireless ear buds – perfect for the long commute home.

The moral of my story is that we need to be discerning about what personal information we choose to expose and to whom. What are the possible outcomes in this scenario? You might end up signing a contract for services you don’t need. Your personal information may be shared with any number of other companies. You might end up on mailing and call lists for products you have no interest in. Or you might have a really positive experience, get that Bluetooth speaker you really wanted and end up in a service contract that will save you money in the long run.

There are potential positive outcomes and negative outcomes when you treat identity like currency to be traded. Is that bit of identity really worth a knock off gadget that’s worth 5 bucks? ($10 at best, these weren’t Bose speakers and Apple Air Pods.)

Think about that the next time you are in a situation like this. Pause before you click submit when filling out online forms and signing up for a new service or app that requires personal information. Do you know how your information will be used? Do you trust the company you are giving it to? You probably had to accept some sort of terms and privacy acknowledgement, either by signature or clicking a check box. Did you read them? Do you understand them?

In the end, the choice is yours. You are the protector of your identity – don’t let someone procure bits of it for less than it’s worth because, believe it or not, it’s worth a lot.