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Maybe America should wait a bit to see how it goes before jumping on the bandwagon. There isn't much to gain by adopting these (potentially beneficial) standards sooner rather than later.

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There isn't much to gain for who? If regulations will help companies see that hoarding personal data is a liability they will do less of it, and US consumers will have less to lose in each new data breach by companies. That's a lot to gain for consumers!

This assumes that the regulations successfully achieve their goals. Otherwise we've fallen into the old trap "we need to do something, this is something, therefore we must do it".

There is ample possibility that the unintended consequences of GDPR play out in ways the regulators do not expect. Assuming otherwise is foolish.

Absolutely, the EU is willing to conduct this experiment, you may as well wait and see what the results are.

As far as I can see the companies targeted will do their upmost to avoid any impact on their bottom line so its quite likely they will discover plenty of holes in the legislation.

If they do business in Europe at all, they're going to need to comply anyway. GDPR compliance is our biggest development push at the company I work for. We face heavy penalties as a provider of our software in the EU as a saas provider.

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