How is the EU tech company lack of growth related to fining companies for not obeying the law?

Yes, Europe is a laggard in tech, but I don't see any relationship here. Even if they wouldn't fine these companies, EU would still lag, and now that they are fining them, EU companies are not at an advantage, nor growing faster.

The US is in the middle of a recession if you exclude the AI bubble. Even if you include the AI bubble it's barely avoiding stagflation. I'm not sure "growth and innovation" accurately serves as a contrast between the US and EU tech companies right now.

Europe just doesn't have the "move fast and break things" mentality because we don't want things like privacy broken. At least not without the user's unpressured choice which is what GDPR is all about.

If we allowed the same kind of unrestricted development we'd have more money and growth but we'd be just like the US. Which I personally don't want for sure. I'm glad to be living here. It's not all about money and economy.