Day Two Reflections from the Project Liberty Summit: Charting the Future of a Free Data Economy

Day Two of the Project Liberty Summit laid out bold visions, actionable insights, and a shared urgency to reimagine the future of the Internet and our digital economy. From an inspiring Main Stage session on TikTok to focused breakout discussions on building a Fair Data Economy, the day showcased the potential to reshape ownership, governance, and innovation in the digital age. In this article, I’ll share highlights and takeaways from today’s discussions.

The People’s Bid for TikTok: Reclaiming Data Ownership

The Main Stage session with Frank McCourt , "The People’s Bid for TikTok ," offered a visionary and provocative discussion on reclaiming data ownership and building a decentralized internet that prioritizes individual agency over corporate control.

Moderator: The incoming Trump Administration appears to be against the banning of TikTok. How does the administration's posture factor into your bid to buy the platform?

Frank McCourt: I don't want to ban it either. I want to buy it! So we're aligned on that. Trump hasn’t specifically talked about forcing a sale, and banning it isn’t the solution. We want to buy this platform for a variety of reasons, but ultimately to showcase that users can be in control of their own data. Once they see this is an option - and there is a far superior way we can be doing social media -- we won't want to go back. This would present a clear demonstration of what's possible with a decentralized social media platform.

Moderator: To create a system where people own their data, wouldn’t there be significant barriers—technical, cultural, and economic?

Frank McCourt: The current system is broken, but it doesn’t have to be. Systemic change must come from the bottom, from individuals reclaiming their agency. Imagine an internet where you're a verified human being—you can stay anonymous but control how much of your data is shared. That shift would transform the internet into something that works like the offline world, where sharing is permissioned and intentional. It's not impossible; it's engineering. People deserve apps and platforms that adapt to their terms of use, not the other way around.

Moderator: Does the technology for this vision even exist? People feel trapped in the current system with no real alternatives.

Frank McCourt: The internet is a necessity, and the lack of alternatives is a crisis. People are miserable with the surveillance economy but have nowhere else to go. It's like migration—you don't leave unless desperate, but you need a place to go. We need to create that better place, explain it, and make it tangible. Once people see they can own their data and identity, and share it on a permissioned basis, they'll demand it. It's obviously better. In five to ten years, we'll look back and think it was absurd that platforms operated in silos.

Moderator: Right now, control over data feels synonymous with annoying pop-ups and cookies. How do we get people to care and engage with this vision?

Frank McCourt: We're in the early stages of this transformation. Yes, today people feel overwhelmed by data choices, but frameworks will evolve to make this seamless. Think about dial-up modems—they were clunky, but now connectivity is effortless. The same will happen here as new standards emerge.

Moderator: Your vision challenges entrenched businesses—social media platforms, data brokers, and AI companies. How do you get them on board or out of the way?

Frank McCourt: I won't do it alone—we'll do it together. Project Liberty isn't just a tech initiative; it's a movement for systemic change. Resistance will come, but we need to confront the moral question: Who owns our data? Big Tech acts as if they own it because we clicked "accept" without understanding the consequences. That's not informed consent, and it's not moral. We need to build a decentralized internet that aligns with democratic ideals. Currently, the internet is drifting toward centralization—a model more akin to the Chinese system, fundamentally at odds with freedom and democracy. If we don't fix the tech, it will shape our political ideals instead of the other way around.

Moderator: You've described an "intention economy" as an alternative to the attention economy. Can you elaborate?

Frank McCourt: The current model is built on surveillance capitalism, manipulating us to capture attention. In an intention economy, people go online with purpose—to buy, connect, or create—without being surveilled or exploited.

This isn't anti-business; it's about building a vibrant commercial ecosystem that respects individual autonomy. When people can own and control their data, it opens up a new era of economic opportunity.

The Task Force on the Fair Data Economy: Charting a Path Forward

The session began with Paul Fehlinger outlining the task force's mandate and holistic approach to building a fairer data economy. He presented a Venn Diagram framework centered on four interrelated pillars:

1. Next-Generation Digital Infrastructure: Building secure and interoperable technical foundations.
2. Entrepreneurship and New Business Models: Enabling startups to create products aligned with data fairness and empowerment.
3. Policy Innovation and Frameworks: Crafting governance structures to regulate data use and mitigate power concentration.
4. Strategic Capital Allocation: Mobilizing investment to support businesses prioritizing a fair data economy.

Key Recommendations from the Task Force

Paul Samson , President of the Centre for International Governance Innovation, provided an overview of the task force's recommendations (report available here), emphasizing collaborative efforts across governments, private sectors, and civil society to shift from an exploitative data economy to one rooted in fairness and transparency.

• The task force identified critical gaps in global digital infrastructure and proposed scalable solutions for equitable data governance.
• It highlighted aligning state and market incentives to foster innovation prioritizing user autonomy and societal benefits over profit maximization.

Public-Private Partnerships: A Simple Fix for Complex Problems

Alex 'Sandy' Pentland , HAI Fellow and Digital Platforms Research Lead at Stanford University 's Digital Economy Lab, stressed that many solutions exist but are underutilized. He pointed out that public-private partnerships could drive significant progress in securing digital infrastructure.

Pentland shared an example: Google 's decision to downrank websites not using HTTPS. Within two weeks, the majority of the web adopted HTTPS, showcasing how a focused intervention can drive widespread change. He argued that governments could replicate this by mandating compliance with existing security standards for any company receiving public funding.

"The problem is worse than most realize," Pentland explained. "The visible web is just the tip of the iceberg; below it lies illegal activity, cyberattacks, and bots. Simply enforcing existing standards could clean up a significant portion."

State Power and the Governance Gap

Cristina Caffarra from UCL addressed structural challenges posed by Big Tech's dominance. She argued that while algorithms get attention, the real issue lies in infrastructure controlled by a few companies. Caffarra noted that traditional tools like antitrust regulation have been ineffective against Big Tech's influence. She highlighted the need for industrial policy and state-led initiatives to counteract this power concentration.

"We've seen regulatory overreach in Europe, but even that has failed to address the root problem," she said. "We need the power of the state to drive demand and set governance principles. International collaboration is essential to counteract digital giants influencing governments under the guise of digital public infrastructure."

Capital as the Catalyst for Innovation

Ivan de Lastours focused on capital's role in fostering a fair data economy. He described a top-down approach where limited partners (LPs) play a critical role in funding startups aligned with fair data principles.

• De Lastours proposed forming an LP Consortium, where investors sign MOUs to collectively support fair data economy startups.
• This would create a community of funds sharing a common vision, enabling startups to demonstrate these principles in practice.
• Blockchain-based tools could enhance this by enabling community financing models that distribute value creation more equitably.

"Innovation requires capital, and LPs sit at the top of the food chain," de Lastours explained. "We need a strategic injection of capital to kickstart this ecosystem. Successful startups will create a virtuous cycle, proving the viability of a fair data economy and attracting more investment."

Strategic Capital Allocation Breakout Discussion

Participants explored aligning capital allocation with fair data economy goals. Key takeaways included the following proposals:

• Incentivizing LPs: Education is critical. Programs like a Kauffman Fellows program for LPs could help investors recognize and prioritize fair data economy startups.
• Learning from Climate Goals: While climate policies have struggled to steer capital away from harmful industries, they've succeeded in mobilizing investment for sustainable projects. A similar approach could work for data governance.
• State Matching Funds: Public-private partnerships could be enhanced by government programs matching private investments, reducing risk and encouraging innovation.

The Road Ahead: Transforming Data Ownership and Governance

Day Two highlighted that we are at the beginning of the next generation of the internet. Through interoperable platforms, permissioned data frameworks, or a public utility model for data, the ideas shared signal a profound shift in how we understand and govern digital spaces.

As Frank McCourt reminded us, "This isn't just a tech problem—it's a moral question." Moving forward, success will depend on our collective ability to challenge entrenched power structures, foster global collaboration, and empower people to take ownership of their digital lives. The tools are within our grasp; now, we must have the courage to use them.

There is much work ahead, but with this group of visionaries, builders, and policymakers working tirelessly to shape a digital future rooted in voice, choice, and shared stakes, the pathway to a fairer digital economy is clarifying, and the momentum is palpable.