And they're rather good at it, they seem to be the only major jurisdiction which takes things like privacy seriously.
What I don't like is simplistic thinking, where regulation is bad by definition - like he does in his tweet. It can be bad, but it can also be really good if done cleverly.
The losses the companies he has invested in sustain duento regulation are not necessarily "absolute losses" in the sense that it is wasted money. The are "societal costs" that need to be payed in order to make sure the companies adhere to a certain level of civility.
The way I read it is more like if you substituted the EU for say, Saudi Arabia. The Saudis btw bring oil (i.e. energy) to the party - but if they brought nothing but Saudi regulations would you still invite them? What "societal costs" would you be willing to pay to adhere to a certain level of House of Saud defined civility?
There's a danger in the myopia of fake universalism, of believing everyone wants your culture and civilization's definition of civility enforced on them - and perhaps they will accommodate you if you're bringing a lot else to the party, but if that's all you're bringing you might simply find yourself uninvited from a lot of parties.