That doesn't make any sense. If GDPR is in place, then US SaaS firms won't be leaking & mismanaging your data, the whole point is they'll have to start complying or else.
US SaaS firms will still have a vast advantage because: they're radically larger with far greater financial resources, have a drastically larger VC environment of initial funding, and still have the world's largest homogeneous economy as the base hub to initialize out of and get to huge scale to easily afford to spend anything they need to on compliance.
What the EU just did is make the compliance picture far more difficult and complex for small European competitors as a whole. With Brexit, the EU lost 15% of its economic mass, further aggrevating this concept of regulatory & compliance splintering across Europe. The European splintering will only get worse as individual European non-EU nations come up with their own rules on this type of stuff.
Salesforce or Workday can more easily comply with a dozen compliance approaches across the whole of Europe, than a given start-up in Portugal or Greece can.
Does GDPR prevent data from being leaked or mismanaged?
As an individual I am much more likely to trust an organisation that follows GDPR regulations over one that doesn’t. That obviously doesn’t mean they’re never going to have a data breach- but by law they will have to announce it within 3 days, and will face massive fines if negligent - that, to me, is a company I would prefer to give my business to - and was my point. Pedantry doesn’t help.
The difference between "not having a breach" and "a legal obligation to announce it within three days" is not semantic. It is absolutely material to the real-world value of GDPR, and claims about it should reflect that.
It's had very little effect on our day-to-day - yeah, it's cost us real cash money in lawyers, and additional training for GDPR, but most of what is going to be legislation we were already doing. As an individual I welcome this legislation - it should really help to stop the shoddy practises that clearly go on (based on the amount outrage I've seen on this issue). GDPR seems, to me, to be proportionate and reasonable.
I don't see this helping US SaaS companies, because once GDPR is in-place then I'd consider EU SaaS providers to be more attractive. It's a real selling point that your data isn't leaking or being mismanaged.
If anything I see this as a potential boon for the SaaS companies doing their job properly, because the companies that have in-house systems (or have their own bespoke solutions) are going to have to prove those systems themselves - and have all the answers to The Letter. Whereas a good SaaS company can take those problems off their hands.