>Among their provisions, the rules enshrine the so-called right to be forgotten into European law
Codifying a terrible ruling into law.
>The rules also require anyone under 16 to obtain parental consent before using popular digital services
It's like COPA but at least an order of magnitude worse.
>... the company unveiled a program that uses artificial intelligence to monitor Facebook users for signs of self-harm. But it did not open the program to users in Europe... The social network has also kept out of Europe facial recognition software that tracks when photos of users are posted across the platform.*
It hinders innovation, and these examples are probably the least of it.
It is very much apparent that these rules were meant for US companies but they will very likely hinder the growth and even the formation of smaller companies that in turn will have to dedicate non trivial resources to insure compliance. Inadvertently or not the EU have introduced a huge barrier to entry.