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Key Words: Stripe COO warns of ‘unintended consequences’ in the dominance of internet ad giants

Stripe Chief Operating Officer Claire Hughes Johnson on Sunday took aim at the internet economy’s overreliance on advertising, saying that the consolidation of online power into a few hands has led to “unintended consequences.”

During a keynote address at Money20/20, a financial-technology conference in Las Vegas, Johnson told the audience that if the internet economy (excluding Amazon.com Inc. AMZN, -0.38% ) were a standalone country, 75% of its gross domestic product would be advertising.

Johnson, who formerly worked for Alphabet Inc.’s GOOGL, +0.66% advertising business, criticized the way ad-driven businesses handle user data. Many consumers aren’t aware of the privacy they give up when they use free services, she said, and the problem is especially pronounced in certain emerging markets where web access is traded for data.

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