The Importance of Formal Property Rights in Data

What happens when a raw material that is valueless suddenly becomes valuable? If it's bird guano in the 19th century, you mine it and save the agricultural economy. If its data in the late 20th century, you collect it and create a new digital economy. 

Music attributions can be found here: https://www.libertarianism.org/podcasts/building-tomorrow/guano.

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