Sometimes an innovation needs critical mass to work - social networks for example. LinkedIn famously got big by being extremely aggressive on how they mined your contacts. You'd get sued to the moon and back in the EU for this behaviour.
LinkedIn is big now, it has established itself and no longer needs to be that aggressive. Any European player that tried to enter the market with a less aggressive stance had no chance - they never reached that critical mass.
And to be clear, when I say suboptimal results I mean misery and death in large quantities.
Regulation are a necessary balance, otherwise the innovators become so powerful they eventually concentrate all the power and privilege and make weaker people pay for it.
Chlorofluorocarbons were an innovation for some times, then we needed regulation to save our ozone layer. Industrial wouldn't have stopped using it.
It's a fine line, constantly moving, an nobody will never be perfectly happy about it.
It doesn't need to be black or white.
A country can have decent consumer protections without e.g. a tax policy that is hostile to startups. But many EU countries are seemingly uninterested in the latter — presumably because there are no votes in it.
I would imagine the potential legal risk for some orgs would be enough to make them comply, especially those with a European presence (and surely a university like Brown must have both at least one legal entity and enough alumni in the EU for them to count). The worst they could do is say no.
it technically applies to anyone resident in the EEA and UK, as well as citizens of the EEA and the UK abroad
As usual, I know it's trendy to say on HN the EU is killing innovation with all the regulations, and there is truth to that, but there is also great customer protection, which seems constantly violated in the US.
So yes, in the US, companies can flourish, but it seems the consumers are second-class citizens compared to companies.
That's why it's nice to have both: eventually, EU regulations leak out to the rest of the world, and the US innovations reach us.
We pay the price by having a weaker economy, they pay the price by having less dignity in their life, but there is eventually balance.