GDPR was so completely inconsequential for EU start up. We have to stop with this constant EU bashing. You know what EU-based start-up do to comply with GDPR ? They don't. Most of them copy paste a generic GDPR legal statement and name the CTO/CEO the DPO. And if they receive a GDPR request (it almost never happen), they just handle it manually.
Now, when you get big enough (or if you start to do really obvious egregious thing with data collection/processing) you might attract the eye of your local data protection agency. And if you really do naughty things they might, gasp, send you a letter and ask you to comply. Only repeated offender and company who really didn't care about even the most basic principle of the law end up being fined. And in most case, the fines are weeeell within reason. Or, as we say, "the cost of doing business".
The only actor who were somewhat annoyed by the GDPR were huge data hoarder.
To better understand why these regulations are pushed forward throughout the world, read for instance Huston's elegant piece: