*By Mike Teich*
A sweeping data privacy bill has been approved in California, but it may be too late for internet users to protect their information, said former National Counterterrorism Center officer Dave White.
"You have to consider yourself compromised," he said. "You’ve already given your data away."
Experts are calling it the nation's most far-reaching law to give consumers more control over their personal data. Under the law, customers can request what personal data companies have collected and what third parties have received it.
The passing of the historical bill didn't come without criticism. The ACLU of Northern California said the legislation falls "woefully short" in defending individuals' rights.
"It's a great first step," White said. However, “it doesn’t go far enough."
Companies that collect user data, from Amazon to Microsoft to Uber, lobbied aggressively against the law, pouring millions into a [opposition campaigns](https://www.theverge.com/2018/6/15/17468292/amazon-microsoft-uber-california-consumer-privacy-act).
But consumer advocates called it a milestone victory. "Today was a [huge win](http://money.cnn.com/2018/06/28/technology/california-consumer-privacy-act/index.html) and gives consumer privacy advocates a blueprint for success," James P. Steyer, CEO and founder of Common Sense Media. "We look forward to working together with lawmakers across the nation to ensure robust data privacy protections for all Americans."
For full interview, [click here](https://cheddar.com/videos/california-passes-historic-privacy-bill).
Compound has raised $8 million in funding for its newest venture, money markets for Ethereum assets which allow investors to earn interest on their cryptocurrency. Robert Leshner, founder and CEO of Compound, said this is new technology for cryptocurrency lending markets.
Facebook announced its newest VR headset that will ship next year. "Oculus Quest" offers users the same virtual experience, but now users are able to move more freely while wearing the headset. Andrew Bosworth, VP of VR/AR at Facebook, said this is the next step in better connecting people around the world.
Sonny Perdue, U.S. Secretary of Agriculture, said American farmers understand the need for tariffs on Chinese imports, even if they might feel some short-term pain. After President Trump imposed tariffs on China, American farmers began to feel the effects. China is the largest importer of American soybeans and that revenue stream has now been cut off. The federal government pledged $12 billion as temporary relief for farmers affected by Trump's tariffs.
Bumped is a new app that tracks how much its users spend on products from publicly traded companies and rewards them with shares of those same companies' stock. David Nelsen, CEO and founder of Bumped, said in the world of consumer rewards, this is uncharted territory.
Polestar 1, Volvo's newest electric performance brand, has made its way to the U.S. Thomas Ingenlath, the CEO of Polestar, said the car should have the longest "pure electric" range on the market.
The e-scooter boom has led to two fatalities ー both on Lime products ー the first documented deaths since scooters charged into the public square earlier this year. Emily Warren, senior director of policy and public affairs at Lime, said in order for e-scooters to become integrated into everyday transportation, there needs to be infrastructure put in place to keep scooter riders safe.
In an exclusive interview with Cheddar as part of the debut of Cheddar Rides, MTA Managing Director Ronnie Hakim outlined the plan to keep the 225,000 people who commute between North Brooklyn and Manhattan via the L train moving.
Shares of SVMK, otherwise known as SurveyMonkey, opened at $18.75, well above the original IPO price of $12.
SVMK, the parent of the online polling company SurveyMonkey ($SVMK), will begin trading as a public company Wednesday, looking to ride the wave of strong tech IPOs from the likes of Eventbrite, Farfetch, and Sonos.
Fintech firms' grand promise had been to unbundle services like checking, savings, lending, and wealth management. But as the big banks adapted to the ever-changing market, start-ups like Simple are now rebundling again. CEO Dickson Chu confirmed to Cheddar that the company, which was acquired by BBVA Compass in 2014, began offering personal loans up to $40,000 through a partnership with online lending company Prosper.
