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The Cost of Surveillance: How NSA Spying is Hurting the US Economy

The Cost of Surveillance: How NSA Spying is Hurting the US Economy With a seemingly never-ending supply of controversial reports coming out of the woodwork, the National Security Agency may seem like yesterday's news when it comes to data breaches and government baddies. Rest assured that when it comes to stealing information, overstepping boundaries, and harming international relations, the NSA still reigns supreme, even years after Edward Snowden first blew the whistle. Oh, and did we mention that it's sending the US into economic ruin? Let us count the ways... 01 Lost Revenue In 2013 it was estimated that NSA surveillance could cost the American internet provider industry companies between $21.5 to $35 billion in lost revenue. 47$ billion Net loss estimations are now at $47 billion and 30$ billion counting. 21.5$ billion 24 2013 Now 02 Global Market Since 2013, NSA surveillance has been cited as a primary cause behind US companies losing their competitive edge in the global market 90% 26% of countries have changed their cloud of non-US companies have halted or reduced their spending with US companies for internet- based services due to Big business deals meant to pump billion into the US economy-such as those between Verizon and Germany, AT&T and Europe, Boeing and Brazil, Intel and Russia, Google and India, Apple and China, and Cisco and China - were lost or significantly damaged by the buying behavior security concerns 25% 34% of them saying they did so out of fear of NSA spying of Canadian and British companies pulled their company data out of the US Snowden leaks. verizon (intel) at&t BOEING CISCO. 03 Outcry American tech leaders and politicians have been calling the government out since Edward Snowden first blew the whistle, demanding more transparency when it comes to the NSA's activities. "Frankly I think the government blew it. The government response was, 'Oh don't worry, we're not spying on any Americans.' Oh, wonderful: that's really helpful to companies trying to serve people around the world, and that's really going to inspire confidence in American internet companies." - Mark Zuckerberg, Facebook CEO "If a foreign enemy was doing this much damage to the economy, people would be in the streets with pitchforks." - Ron Wyden, Oregon State Senator "The justification has been couched as 'Don't worry. We're only snooping on foreigners.' For a company like ours, where most of our business and most of our users are non-American, that's not very helpful." - David Drummond, Google Chief Legal Officer "Businesses increasingly recognize that our government's out-of- control surveillance hurts their bottom line and costs American jobs. It violates the privacy of our customers and it erodes American businesses' competitive edge." Justin Amash, US Congressman 04 Butterfly Effect While Silicon Valley used to reign supreme, the US has struggled to regain its credibility in debates about internet governance. All signs are now pointing towards data sovereignty becoming the way of the future, with governments around the world using American surveillance techniques as reason for introducing new protectionist policies. Failure to adhere to the NEDPR means massive fines of up to For example, the previously thriving digital economy between the US and the EU is in jeopardy due to the New European Data Protection Regulation. It guarantees all internet-using Europeans the right to know things such as why they are being profiled, what buckets they're being sorted into by advertisers, and who receives their data. of global revenue 05 Decline New laws prevent citizen's personal information from leaving their country's border. US cloud computing firms While lost sales are difficult to quantify, it's obvious that the NSA's surveillance program has significantly harmed the US economy since it first became public knowledge, and it will continue to do so for years to are now forced to build data centers overseas or risk losing access to their markets altogether. come. "We haven't turned this around: it's not just cloud companies. It's all tech firms impacted by this. It doesn't show any signs of stopping." - ITIF Resources: Дл BestVPN

The Cost of Surveillance: How NSA Spying is Hurting the US Economy

shared by katrinap on May 09
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An overview of the short-term and long-term economical impact of the 2013 NSA domestic surveillance revelations.


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