Giovanni Buttarelli, European Data Protection Supervisor, said: "...the Privacy Shield as it stands is not robust enough to withstand future legal scrutiny before the Court. Significant improvements are needed should the European Commission wish to adopt an adequacy decision, to respect the essence of key data protection principles with particular regard to necessity, proportionality and redress mechanisms. Moreover, it’s time to develop a longer term solution in the transatlantic dialogue."
If by business model you mean the right to assure privacy of individuals, then Facebook, Google and Uber are indeed not respecting the basic right to privacy (a human right btw).