Facebook (the website) is not rocket science. As for Google, replacing it could take time, but in the long run it's good to destroy their monopoly in Europe.
Not for some of us just starting our companies. "Worst" case scenario is smaller players that would otherwise play globally will now not play in the EU market.
I was told the other day, "don't worry about it if you don't have sensitive data." That misunderstands risk management. I have plenty of customer potential on this side of the pond, why even risk it until I am large and have saturated my pool? I plan on handling my data completely within the spirit of that law, I just don't want to risk it. Seems on risk alone, others will have to make the same decision as me. We're not losing out really (we can only grow so fast) but those in the EU that might want access to the global market, big or small, might be.
I get that regulations make it more difficult for companies to enter a market, but if that means more protection for the user privacy (in this specific case), I cannot see how that could be a problem.
The fact that the EU might have more data protection than, say, the US, could also be an added value to a service. Case in point: protonmail. It's not EU-based, but they use Swiss privacy regulations as a selling point. Some people are willing to pay more for that.
Anyone who thinks RTBF wont create internet graveyard is delusional. GDPR needs to explicitly exempt legally-obtained/user-submitted public PII ASAP.
[1] https://transparencyreport.google.com/eu-privacy/overview
[2] Which is obviously very low number. Imagine GDPR for 7 billion people.
> I cannot see how that could be a problem.
This is a cost/benefit calculation, but not an easy one. In general a given set of regulations will have both costs to the consumer such as reduced choice and increased prices (due to regulatory costs being passed through), and benefits such as better protection of personal information in this case.
Now, the fact that users in the EU seem to currently be supportive of these regulations suggests that they are willing to pay that cost to get that benefit. And that's their decision!
But consider the scenario where this trend carries on, and startups are increasingly not able to get a toehold due to incredibly high compliance costs. That could stifle the economic development in the EU, and lead to further concentration of power as only large companies can afford to pay the lawyer bills to meet the regulations.
Yup, that was the point.
> And that's their decision
Some at least. It's modern European federalism. The same people that the lawmakers believe aren't able to make their own decisions about which services are good or bad for them are, yet, able to determine that these regulations will be beneficial.
That's a valid argument in a perfectly transparent world with even negotiating power. But companies are opaque or change their handling of data (that one is the basis of this story!) and there's a race to the bottom where most options are severely lacking in privacy.
And these regulations are a very minor impingement on free contract-making. You can still give up privacy, you just can't give it up irrevocably.
> And these regulations are a very minor impingement on free contract-making
Agreed, but it's a question of cost vs benefit. They may not be a minor impingement on smaller companies and consumer choice and may make minimal impact anyways. I think we can all see that, if the law is evenly applied, smaller companies stand to lose most. Granted, the EU tends to subjectively choose when to bring the hammer down and it's mostly on larger companies. But it's still not worth the risk.
> All this data
What, from my two large customers? So EU says I violated article 5 and the personal data wasn't "processed lawfully, fairly and in a transparent manner in relation to the data subject". Ug, such subjectivity. It is so sad to see so many people want solutions to these problems that they assume the GPDR is it. I can't do business there just praying I don't misstep and go bankrupt or subjecting myself to the whims of these loaded terms like "transparency" until I am large enough to absorb the blow.
I think it's fair. You shouldn't break the law. That regulation may be overkill in terms of punishment, but that doesn't mean that the regulation itself is wrong. Laws are imperfect. Regulations exist in every industry and there's a reason for that. Over regulating is a burden for a business, but under regulating is bad for customers (or the environment, or whatever).