> If I were starting a social network today, I’d simply block EU IPs from accessing it. You're be free to do that. And then you'd have to cut off a large reven

> If I were starting a social network today, I’d simply block EU IPs from accessing it. You're be free to do that. And then you'd have to cut off a large revenue stream (~25% of FB's revenue comes from the EU). And if you get popular, some EU start up can just copy your site. They already know what works, what features to build, so it'll be quicker for them to copy than it took you to build. This competitor will be able to operate in the USA and EU, but you won't be able to take them on in the EU. They'll have a safe, protected user base of ~500 million potential users to rely on.