Wiki - https://en.wikipedia.org/wiki/EU-US_Privacy_Shield
News- https://duckduckgo.com/?t=ffab&q=privacy+shield+&iar=news&ia...
The Irish DPC didn't want to make this decision (for reasons), kicking the can to the CJEU, which eventually resolved Schrems II and remanded the decision on FB's SCC's back to the DPC.
It is hard to imagine a SCC that could provide "essentially equivalent" protection if the other end is an American company, given the authority the US government can exert over it.
States coming to a variety of conclusions and making a variety of decisions about how to treat a private US company holding an unimaginably large amount of social data and metadata... was an eminently knowable and completely obvious set of risks going in, so I have little sympathy for Facebook "failing" to plan a mitigation for those risks. It's hard to see it as anything but a deliberate choice.
Unfortunately, given their past history I suspect the hope was that the company would be able to have its cake and eat it too, by playing on legislators' and citizens' lack of technological literacy and adhering to a "better to ask forgiveness than permission" policy. Throwing up engineering hurdles to compliance just benefits Facebook in this case, because they're banking on states' inability to simply ban Facebook. Facebook can force them to the table, with the deck stacked against them.
"Won't your citizens be angry if you make Facebook inaccessible to them?"
"Everyone uses it! That could be seen as censorship!"
"Let's work together to find a solution that benefits everyone."
It's the same story as with Uber and AirBnB.
Problem solved
The EU still allows transfering data to other third countries if suitable protections can be effectively put in place, whether through some governmentally agreed program like what Privacy Shield tried to do or through Standard Contractual Clauses. They simply view the laws in the US as too hostile to most of their residents' data privacy rights. ("Most" instead of "all" because US citizens have more protections under US law even when living in Europe.)
So, while sure it is a kind of border, it's a "privacy-protected vs privacy-dangerous" border rather than a blanket "us vs them" border. Or, phrased another way, it's not a border as a goal, but rather preventing the nature of the internet from overriding their separate privacy goal. I am fine with that attitude.
Let's take Facebook. We could have Facebook.US, Facebook.EU, Facebook.UK, Facebook.CN, etc.
In a borderless internet, you'd still be allowed to use the one that you wanted, but each would be subject to the laws of its "country". (I realize that the EU isn't a country.)
Plus it's not in $country is in $region, if all countries made an effort to adopt GDPR data could be stored anywhere.
EU is looking for their citizens data, since no one else seems to care that much (other than China but for completely different reasons).
Unless you think that the protocol of tech giants to poor data protection is fine, when they are saying:
"Ups, we're sorry :(... it won't happen again!"
Yeah that’s part of the original vision of the Internet.