If that's going to be the sort of business that the GDPR makes unprofitable and unworkable then I'm very proud to be a European citizen.
This is the sort of business that GDPR makes unprofitable and unworkable - but unfortunately it's not the only sort. Normal, everyday services - sites that you might use and enjoy - will also have to close to EU traffic simply to avoid the liability.
At my company, we do nothing nefarious with user data. We have a combined total of a few million visitors per month across a handful of sites. After consultation with experts, we had to make the decision to either spend high six/low seven figures to hopefully comply and buy special liability insurance that would help pay any fines (this law is subject to unique interpretations in 28 distinct countries, so nobody can actually know what "full" compliance is), or simply block EU traffic. We chose the latter, and many thousands of other sites that have no intention of doing anything nefarious with your data will as well.
This is the sort of business that GDPR makes unprofitable and unworkable - but unfortunately it's not the only sort. Normal, everyday services - sites that you might use and enjoy - will also have to close to EU traffic simply to avoid the liability.
At my company, we do nothing nefarious with user data. We have a combined total of a few million visitors per month across a handful of sites. After consultation with experts, we had to make the decision to either spend high six/low seven figures to hopefully comply and buy special liability insurance that would help pay any fines (this law is subject to unique interpretations in 28 distinct countries, so nobody can actually know what "full" compliance is), or simply block EU traffic. We chose the latter, and many thousands of other sites that have no intention of doing anything nefarious with your data will as well.