Earlier quoted context omitted.
Yes, all regulation makes companies less competitive than unregulated companies. That's why you regulate everyone. Whats the harm of the GDPR?
Less competitive companies means that we won't have these types companies in the EU. We are already doing very poorly when it comes to anything related to computer technology and this will make it even worse.
The GDPR is pretty sane and not very hard to comply with, unless you're being scummy. I'd rather not have scummy companies, even if that means we won't be competitive.