And it gives enough power to really control what companies are doing with people's data. And the fines are huge (up to 3% of the company's global gross amount) compared to what exists today.
How many people would opt-out of (or not opt-in to) a service like Google search?
Typically, there are three bullets on European privacy forms: handling personal data to provide the service, handling personal data for commercial and advertising purposes, sharing personal data with third parties (usually for commercial and advertising purposes). Pre-printed forms can only have the first ticked to yes, the other two must be filled in by the customer.
See also: https://www.google.it/amp/s/amp.theguardian.com/technology/2...
Nevertheless, it's a strong incentive for even the biggest companies to follow the law. EU has the capability and desire to enforce huge fines to make sure data protection laws are obeyed.
Facebook getting fined for privacy violations:
And we'd all be delighted with taxes as low as 15%!