There is a fundamental difference between America and Europe, in that Americans distrust their government but trust corporations and the free market. Europe is the exact opposite.
You can agree or disagree our world view, but that doesn’t change the fact that in average, more than 70% of Europeans trust the EU to have their best interests in mind, mich higher for GDPR.
I don’t think it’s really start-up hostile either. I think there is a huge potential for disruption for privacy centric companies.