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Former tech executive Andrew Yang speaks during the Democratic Presidential Debate at Otterbein University on October 15, 2019 in Westerville, Ohio. A record 12 presidential hopefuls are participating in the debate hosted by CNN and The New York Times.

Andrew Yang, the Democratic presidential candidate best known for his $1,000-per-month universal basic income platform, says tech giants should pay people for use of their data. "Right now, our data is worth more than oil," Yang said during Tuesday's Democratic debate in Ohio. "How many of you remember getting your data check in the mail? It got lost. It went to Facebook, Amazon, Google." Yang offered the idea as a way to handle such tech megaliths instead of just breaking them up (which some, like Democratic candidate Sen. Elizabeth Warren, have advocated). Though there are "absolutely excesses in technology and in some cases having them divest parts of their business is the right move," according to Yang, "we also have to be realistic that competition doesn't solve all the problems. "It's not like any of us wants to use the fourth-best navigation app. That would be like cruel and unusual punishment. There is a reason why no one is using Bing today. Sorry, Microsoft. It's true," Yang said during Tuesday's debate. Yang said that if "we say this [data] is our property and we share in the gains, that's the best way we can balance the scales against the big tech companies," calling it "the best way we can fight back." According to Yang, companies should first be required to have customers opt-in to data collection, with a "clear and easy-to-understand statement about what is being collected and how it is going to be used." Those who do opt-in and share personal data with companies should then "receive a share of the economic value generated from your data."

"Every time we post a photo or interact with a social media company, we're putting information out there, and that information should still be ours. If somebody is profiting from our data and we decide willingly to partner with a company that's making use of this information, then that's only fair as long as we get a slice," Yang told The New York Times in a story published Tuesday. "Right now we're unaware of the value that's changing hands and we're definitely not getting a data check in the mail every season."

Right now, our data is worth more than oil. Andrew Yang Democratic presidential hopeful