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on buyers’ willingness to pay and sellers’ lowest acceptable bids, or reservation prices. However, digital platforms such as Meta benefit from individuals’ data by virtue of their size – they have such a large amount of personal data. There is no market for individual data rights, even though there have been a few policy proposals such as California governor Gavin Newsom’s call for a data dividend. Some cybersecurity experts have already pointed out the downsides to monetizing security features. In particular, in giving a very rushed timeline, one month from announcement to implementation, to pay for a more secure option, there is a real risk that many users will turn off two-factor authentication altogether. Further, security, user authentication and identity verification are issues that concern everyone, not just content creators or those who can afford to pay. In the first three months of 2022 alone, nearly one-fifth of teens and adults in the U.S. reported their social media accounts getting hacked. The same survey found that 24% of consumers reported being overwhelmed by devices and subscriptions, indicating significant fatigue and cognitive overload in having to manage their virtual experiences. It is also the case that social media platforms are not really free. The old adage is if you are not paying, then you are the product. Digital platforms such as Meta and Twitter monetize the enormous tracts of data they have about users through a complex online advertising-driven ecosystem. The system makes use of very granular individual user data and predictive analytics to help companies microtarget online ads and track and compare advertising views with outcomes. There are hidden costs associated with people’s loss of privacy and control over their personal information, including loss of trust and vulnerability to identity theft. Social media and online harms The other problem is how these moves to monetize security options increase online harms for vulnerable users without identity protection provisions. Not everyone can afford to pay Meta or Twitter to keep their personal information safe. Social bots have become increasingly more sophisticated. Scams increased by almost 288% from 2021 to 2022, according to one report. Scammers and phishers have found it easy enough to gain access to people’s personal information and impersonate others. For those who are scammed, the process of account recovery is frustrating and time-consuming. Such moves might hurt the most vulnerable, such as those who need Meta to find access to job information, or the elderly and infirm who use social media to learn about what is happening in their communities. Communities that have invested resources in building a shared online space using platforms such as Twitter and Facebook may be harmed by monetization efforts. People are tired of having to navigate numerous subscriptions and having security and privacy concerns that persist. At the same time, it’s an open question whether enough users will pay for these services to boost collective security. Ultimately, the service a social media platform offers is the opportunity to connect with others. Will users pay for the ability to maintain social connections the way they pay for content, such as entertainment or news? Social media giants may have a difficult path ahead.