The best description of the data economy comes from AOL, of all places. The once-mighty internet service provider now runs a tidy business in the ad-exchange space. The site promoting the service is hip and tasteful, showing happy, partying people and white text that spells out things like “Monetize your most valuable asset” in all caps.  “A publisher’s audience is their currency,” the site says. “No matter how they make money from content—be it through advertising, paid subscription or syndication, a publisher’s core asset is audience and audience data.” This is weapons-grade marketing speak, but it’s also a surprisingly honest assessment of digital media’s beating heart—one that pumps out content and takes in reams of data from the people who consume that content. And somewhere, unseen, money is being made from what we see and do online.

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