Private ownership ≠ capitalism.
Right. It’s private ownership of capital; aka the means of production. You’re saying that data should be owned because it can be used productively. That’s exactly capitalism for capitalism’s sake.
This is a typical economically right-wing approach. There is a problem, so you just create a new kind of property and call it done. The magic of the market takes care of it, or something. I don’t understand why one would expect a different result from trying the same thing.
The point of it is to redistribute wealth using the existing capitalist framework, which is a left-wing endeavour.
But it doesn’t redistribute wealth. To do that, you have to take wealth from somewhere and spread it elsewhere.
Right, so instead of big tech companies keeping all the profits made from utilizing user data, a big chunk of it goes back into the pockets of the users themselves. Like a cooperative organization that shares profits with its workers.