California's new privacy law creating $55 billion startup opportunity - Business Insider

, or CCPA, is intended to give consumers a lot more control over the personal data that's collected by websites and apps.with the law.

While California's attorney general is putting finishing touches on the law and isn't expected to start enforcing it until July, companies are already starting to worry about getting into compliance. Indeed, companies are expected to spend $55 billion this year to get in compliance with California's law,That's created a huge opportunity for tech companies, and perhaps especially startups, several Silicon Valley insiders have told Business Insider.

That's good news for established companies like Box, for sure, but also for smaller startups. The scale of the problem is such that no single company can currently tackle it on their own, said Bart Willemsen, an analyst at Gartner. "I see the biggest issue as understanding where data is and how to access that data...their data systems have not been developed with that kind of functionality in mind, so they're having to create it...so I think that response to consumer requests is going to be the biggest challenge," Cattanach said.

Very Good Security is one such startup, which layers itself on top of a company's software and parses out which data is most sensitive. That data then gets shunted to VGS's own systems for safeguarding and processing, taking the burden of protecting it away from the customer while also making it easier to make sense of all of it.

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