Here's why Facebook, Google, and every other major tech company are updating their privacy policy in time for 2020, and what it means for you

The law only applies to businesses that earn more than $25 million annually, collect data on more than 50,000 people, or make more than half of their revenue by selling people's data.

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Tech companies are expected to spend around $55 billion to get in compliance, according to a report published by the state of California.

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Some companies are already rolling out changes — Twitter announced a new "privacy center" in December.

Similarly, Google has published a Chrome extension that allows people to block Google Analytics from gathering their information.

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However, some companies are pushing back on the thrust of the law — Facebook argues that it doesn't need to change its policies because it says it technically doesn't "sell" user data, but rather uses it for advertising targeting purposes.

If nothing else, all companies that the law applies to will need to set up online help centers where users can request information about how their data is used — so if you're looking for more specific information, seek out those resources.

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