But if I was an executive or shareholder? Why would I care? We've seen time and time again how data breaches are just a blip in the stock price, the government doesn't punish anyone for negligence, and if someone manages to take serious money from you the government will go after them on your behalf. Security is expensive, and the odds of you having a breach that actually hurts you for more than a short period seem astronomically low.
We have more businesses saying they are shutting down or leaving the EU market over the fact that they can't take user data without permission than we have shutting down because they leaked all their users data or let hackers in through complete negligence of any modern security practices