Earlier quoted context omitted.
The costs of compliance are not too high. Compliance is actually ridiculously easy for new companies: they need to collect only the data they need. That is all there is
https://en.m.wikipedia.org/wiki/General_Data_Protection_Regu...
Edit: That is, ridiculously easy for new companies. Incumbents have been hoarding data for too long and it was actually harder for existing companies to become compliant.