By 2020, hedge funds will spend $1.8 billion on web-scraped data from vendors and their own bots that trawl websites for info. But a case involving LinkedIn could cut back on the access to this new source of information.
But the pedal-to-the-metal approach of scaling up and building out web-scraping units by hedge funds may be for naught as the courts try to create a framework for what is allowed on the web.that public LinkedIn pages can be scraped by hiQ, a company that used the data trawled by their bots to inform employers about their employees' web activity, despite the fact LinkedIn's terms of use forbid the use of any web-scraping bot.
"I don't think it is scaring folks from using it," Greene said of LinkedIn's call to stop scraping. The most significant change has come from hedge funds' compliance departments that are tracking litigation related to web-scraping and are generally more knowledgeable and sophisticated around digital data collection, he said.
Web-scraping in particular is an area where there are motivated third-parties — the websites — that are unhappy with the practice.
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