Woo, a solution to a problem that doesn't exist - the current state of privacy enforcement in America works fine. Companies with something to lose effectively self-police. Companies that are a little too cavalier with user privacy get whacked with bad PR and swarmed by class-action trolls - a far greater penalty than anything the FTC can dish out. The adversarial model is a little messy, but it results in a sane equilibrium that can evolve over time.
While the document this press release is based on probably won't result in any laws, if it does, it's only going to codify current expectations around the use of personal data, which will grow increasingly stale as society changes. Over time, having these obsolete expectations as law will become a greater and greater albatross for entrepreneurs and for the economy.
While the document this press release is based on probably won't result in any laws, if it does, it's only going to codify current expectations around the use of personal data, which will grow increasingly stale as society changes. Over time, having these obsolete expectations as law will become a greater and greater albatross for entrepreneurs and for the economy.