Facebook co-founder says people should get paid for data

Chris Hughes, a Facebook co-founder and co-chair of Economic Security Project, says companies that collect data on individuals should pay them.
3:13 | 04/30/18

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Transcript for Facebook co-founder says people should get paid for data
Into the conversation that we started. Having about privacy is important and critical but to Macedonia goes quite far enough I think we need to be having a bigger conversation about our data. Who owns our data the wealth that it creates. And the need for those of us who created all FaceBook users to share in that well what I'm advocating Ford is a data tax. So a small royalty on all companies that use. Consumer data to fuel their business models such as FaceBook school goal its Amazon also insurance companies. Retail companies banks etc. we are creating a mass of an island. And that's fueling lots of profits the data tax of about 5%. On companies that use massive amounts of data. Could find a dividend. A data dividend to each American about 400 dollars a year and if the amount of data that we produce about ourselves. Continues to grow as most people expect that 400 dollars could top a thousand dollars or even more pretty. Thousand dollars a year to everybody is using technology base. The numbers add up right now hundreds of billions of dollars of corporate profits are being made. Off of the doubt that data he's immensely valuable. And I think we all agree that it's great to have these services for free. But we are creating this common wealth if you will. And I think it's reasonable to have. An expectation everybody can. Enjoy a share of the profits how likely is it actually happens we have a model up in Alaska they've done that they had. Oil that was discovered in the 1970s. And Republican governor is there said. Oil companies you can you can tap into our natural resources. But you've got to pay a little bit about back into a common savings again and today every single laugh in its dividend check. 15100 bucks a year so I think it's that kind of template that kind of model which we can and should adapt when it comes the data that we're creating. How are we actually from something like that happening even if everybody was on port which I don't think very far at all I mean the logistics of this. Could be very straightforward. Following the Alaska models creating savings account. For every American and distributing checked each person you could uses the infrastructure that Social Security. Already provides to ensure that each individual gets that money and gets checked. Or direct deposit there are other ways that you could do it too but the pipes and some cents or already played. It's just whether we can develop the political will to lay claim to what I think is there pressure. Right here congressperson. Exactly what you think mark effort which in a letter talked to about it but I think that it. He would recognize the data that FaceBook users and others have created as their property. He said that quite clearly and if the data that all of us are creating on FaceBook is indeed our property. And we're agreeing to allow FaceBook to users to sell ads. Then I think by all means it's it's reasonable to say what we should are a little bit in that upside.

This transcript has been automatically generated and may not be 100% accurate.

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