Short-Run Effects of GDPR on Technology Venture Investment
papers.ssrn.com
Short-Run Effects of GDPR on Technology Venture Investment
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Re: Short-Run Effects of GDPR on Technology Venture Investment
#2Not everything is about the economy.
Re: Short-Run Effects of GDPR on Technology Venture Investment
#3Not everything is about the economy.
"Too much and for too long, we seemed to have surrendered personal excellence and community values in the mere accumulation of material things. Our Gross National Product, now, is over $800 billion dollars a year, but that Gross National Product - if we judge the United States of America by that - the GNP counts air pollution and cigarette advertising, and ambulances to clear our highways of carnage. It counts special locks for our doors and the jails for the people who break them. It counts the destruction of the redwood and the loss of our natural wonder in chaotic sprawl. It counts napalm and counts nuclear warheads and armored cars for the police to fight the riots in our cities. It counts Whitman's rifle and Speck's knife, and the television programs which glorify violence in order to sell toys to our children. Yet the gross national product does not allow for the health of our children, the quality of their education or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public officials. It measures neither our wit nor our courage, neither our wisdom nor our learning, neither our compassion nor our devotion to our country. It measures then, in short, everything except that which makes life worthwhile. And it can tell us everything about America, except whether we are proud to be Americans."
- Senator Robert F Kennedy, 1968
Re: Short-Run Effects of GDPR on Technology Venture Investment
#4I notice Brexit is mentioned only once in the paper, in a footnote mentioning that Great Britain is considered part of the EU for the purpose of their research. Another article currently on the HN frontpage discusses the effects of Brexit on companies [1], blaming Brexit for reduced investment and companies leaving the UK.
While I am absolutely open to the possibility that the GDPR has negative effects on technology venture investment (as their paper suggests), I am a bit disappointed that they did not attempt to correct for the effects of the UK leaving the EU. At the very least it would have been nice if, in addition to graphs for the entire EU, there were graphs for the UK alone, and also for the EU without the UK. That way it might have been possible to get a vague impression of how much these numbers are affected by Brexit instead of the GDPR.
Re: Short-Run Effects of GDPR on Technology Venture Investment
#5Not everything is about the economy.
"Too much and for too long, we seemed to have surrendered personal excellence and community values in the mere accumulation of material things. Our Gross National Product, now, is over $800 billion dollars a year, but that Gross National Product - if we judge the United States of America by that - the GNP counts air pollution and cigarette advertising, and ambulances to clear our highways of carnage. It counts specia…
> Our enormously productive economy demands that we make consumption our way of life, that we convert the buying and use of goods into rituals, that we seek our spiritual satisfactions, our ego satisfactions, in consumption. The measure of social status, of social acceptance, of prestige, is now to be found in our consumptive patterns. The very meaning and significance of our lives today expressed in consumptive terms. The greater the pressures upon the individual to conform to safe and accepted social standards, the more does he tend to express his aspirations and his individuality in terms of what he wears, drives, eats - his home, his car, his pattern of food serving, his hobbies.
> These commodities and services must be offered to the consumer with a special urgency. We require not only “forced draft” consumption, but “expensive” consumption as well. We need things consumed, burned up, worn out, replaced, and discarded at an ever increasing pace. We need to have people eat, drink, dress, ride, live, with ever more complicated and, therefore, constantly more expensive consumption.
-- Victor Lebow, "The Real Meaning of Consumer Demand", Journal of Retailing, 1955
Re: Short-Run Effects of GDPR on Technology Venture Investment
#6Not everything is about the economy.
Considering "the economy" determines whether or not we can eat, have somewhere to live, get access to healthcare etc. (rightly or wrongly), I'd say it's pretty central to everything that we do as a species.
Re: Short-Run Effects of GDPR on Technology Venture Investment
#7Re: Short-Run Effects of GDPR on Technology Venture Investment
#8EU is a nightmare for any startup. Instead of developing new products, you have to spend >50% of your time just to comply with all those laws. and it keeps coming. Soon, every company will also be required to build copyright filter for all uploaded media files (content-id)...
Re: Short-Run Effects of GDPR on Technology Venture Investment
#9I notice Brexit is mentioned only once in the paper, in a footnote mentioning that Great Britain is considered part of the EU for the purpose of their research. Another article currently on the HN frontpage discusses the effects of Brexit on companies [1], blaming Brexit for reduced investment and companies leaving the UK. While I am absolutely open to the possibility that the GDPR has negative effects on technology…
> At the very least it would have been nice if, in addition to graphs for the entire EU, there were graphs for the UK alone, and also for the EU without the UK.
That would seem to require that the Crunchbase dataset referenced in the paper (but not discussed in terms of its content or format) was broken down in terms of specific businesses and their host country.
The actual effects of the UK's exit are not yet known (the post-Brexit UK might even grandfather in some EU law like GDPR), and the article [0] mentioned in the other HN story (your ref 1) is not definitive, e.g. for Pfizer it says: "Pfizer’s preparations are well advanced to make the changes necessary to meet EU legal requirements after the U.K. is no longer a member state, especially in the regulatory, manufacturing and supply chain areas". To me this isn't a basis for inferring what Pfizer will do with respect to GDPR
[0] https://twitter.com/uk_domain_names/status/10615540262848348...
Re: Short-Run Effects of GDPR on Technology Venture Investment
#10Not everything is about the economy.
Considering "the economy" determines whether or not we can eat, have somewhere to live, get access to healthcare etc. (rightly or wrongly), I'd say it's pretty central to everything that we do as a species.
Suggesting that everything people spend money on in the economy is equally important to necessities like food and housing is a gross false equivalence.