That is incorrect. GDPR allows hoarding data from consumers, but requires explicit consent. The business model of FB is to offer a free service in exchange of consent to tracking and targeted ads. Hoards of internet users are already 'hooked' on FB, and would consent to sharing anything with them if it's a prerequisite to participate in the platform.

New and coming businesses require jumping through more hoops to implement GDPR, while big players with their lawyer armies have no trouble adjusting to regulation, hindering competition.