Re:So Your Startup Received the Nightmare GDPR Letter
by JumpCrisscross on Tuesday May 29, 2018 @08:45AM
(#17178592)
> The GDPR isn't any more onerous than any of those, it's just new
It’s different. “Complain and investigate” regulatory regimes are expensive to comply with. That is irrespective of whether one is doing anything wrong.
These regimes aren’t inherently faulty. They’re quite good in the American securities business. But they create a palpable incumbency bias, as well as one towards those who can afford lawyers and make a useful phone call.
Such a regime would have been ideal if constrained to large companies. Rolling it out for everyone means anyone mis-interpreting something could trigger a regulatory investigation. Even if found innocent at the end, that process is harrowing, expensive and distracting.
Every jurisdiction has its costs and benefits. Europe is still a huge market. But if one doesn’t see enough revenues to justify a dedicated compliance person, it’s a market which may now make sense to delay going into.
It’s different. “Complain and investigate” regulatory regimes are expensive to comply with. That is irrespective of whether one is doing anything wrong.
These regimes aren’t inherently faulty. They’re quite good in the American securities business. But they create a palpable incumbency bias, as well as one towards those who can afford lawyers and make a useful phone call.
Such a regime would have been ideal if constrained to large companies. Rolling it out for everyone means anyone mis-interpreting something could trigger a regulatory investigation. Even if found innocent at the end, that process is harrowing, expensive and distracting.
Every jurisdiction has its costs and benefits. Europe is still a huge market. But if one doesn’t see enough revenues to justify a dedicated compliance person, it’s a market which may now make sense to delay going into.