Nick Grossman wrote about the changing model of trust recently, pointing out that many new services (like eBay) establish trust by collecting data about behaviours to build a profile.
And this is OK because there is symmetry; it is understood that X data is collected for Y benefit to the consumer. The "surveillance" is consented to and very similar to credit scoring delivering lower borrowing costs. The arrangement is well understood by most people.
What is (a lot) less OK, however, is the collection of information by other networks where consumers are not aware what information is being collected and to what purpose. The largest networks (Google, FB etc.) are opaque, at best, about what data they collect / have already collected.
In these arrangements, there is an asymmetry and, to me, this "3.0" scenario is far more troubling and in need of regulation than the comparatively benign, 1.0 or 2.0.
1.0: establish trust by passing an up-front test (i.e., licensing) 2.0: establishing trust by tracking and publishing your activities (i.e., surveillance) So, in the case of ebay, airbnb, etc the idea is: have at it, start transacting, with a relatively low barrier to entry; but everything you do will be tracked and analyzed, and used to build your reputation and trustworthiness in the long run. Freedom to act & transact, in exchange for data-driven accountability.