Natasha Singer reports:
The new European data privacy legislation is so stringent that it could kill off data-driven online services and chill innovations like driverless cars, tech industry groups warn.
The American Chamber of Commerce to the European Union called the legislation “overly strict.” The Developers Alliance, a trade group representing Facebook, Google, Intel and dozens of app makers, said it could cost businesses in Europe more than 550 billion euros, or about $640 billion, in annual lost revenue. And DigitalEurope, another tech trade group, said the legislation’s prohibitive approach “seriously underminesthe development of Europe’s digital economy.”
Read more on NY Times.