This is a double edged sword...in the EU it doesn't matter because they didn't have a internet economy to begin with but here in the US a lot is at stake. So if you want better privacy laws in the US then they have to be much more clever than GDPR to not destroy the economy and global competitiveness! BTW: Personally I think it is possible to do better than GDPR here in the US.
As a percentage of GDP the so-called "digital economy" isn't much less in the EU than in the U.S. See, e.g., https://www.imf.org/~/media/Files/Publications/PP/2018/02281... Excluding the U.K. and Ireland (tax haven) the difference between the EU and U.S. is greater, but (eyeballing) only on the order of 30-50%--e.g. ~4% vs ~6%. What's more surprising is how small the share of GDP is the digital economy in the U.S. Th…
I guess it depends on your definition of digital economy...I was referring to companies of the size and influence like Apple, Amazon, Google, Facebook, Microsoft, Oracle, Airbnb, Tesla, SpaceX, etc
What's your reasoning for this assertion? If the user is a European citizen, I was under the impression that GDPR was applicable. The location at which the user is at does not matter one iota. US companies need to understand this, or risk losing trading abilities with citizens and organisations in EU member states.
No, Youre wrong, citizenship doesn't matter, the application dependeds on physical location. If youre an American in Europe the GDPR applies to you, if youre a European in America the GDPR does not https://www.compliancejunction.com/does-gdpr-apply-to-eu-cit... https://ec.europa.eu/info/law/law-topic/data-protection/refo...