1/ The GDPR tweet below got a surprising amount of traction. Many replied that it's important to look at consumer benefits, not just corporate costs. Fair. In my opinion, GDPR a huge net negative because of the low benefit & the high opportunity cost of spending on compliance.
2/ Low benefit: GDPR is supposed to protect privacy. Is there data showing this has happened? I'd love to see some if there is.
Do people feel their data is safer? Is it safer?
Do people take control of their personal data?
Do they trust companies more?
My gut feeling: no.
3/ Opportunity cost: est cost of US co compliance is $150b. That's $150,000,000,000. What else could be done with this $?
You could give $10k to every US college student. Or $5k to households in bottom 25%. Or build 2 *million* apartment units. Which of these has the most value?
4/ FWIW I'm not against all regulation. Some regulation is necessary and a huge social good. But a lot of regulation is extremely inefficient and wasteful. I think GDPR falls into that bucket.
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