U.S. Privacy Legislation: Talks Have Begun
The Senate Commerce Committee is in the beginning stages of discussing a US privacy law. Last week a hearing was held on the hill and although it seemed to be a bit one-sided, discussing privacy with only technology companies, there is a sense that the Senate will continue to go down this path.
What I find interesting is when huge multinational companies argue that legislation will hurt startups small and mid-sized companies, as if they are looking out for these companies, that’s a weak argument. My perspective is that startups and SMB’s are better positioned to comply with legislation than larger companies and it would not put a chilling effect on companies wanting to compete. Startups and SMB’s are uniquely positioned to place the appropriate controls in place from the beginning and If done correctly will give them a competitive advantage. In addition, as they grow, it will become easier for them to comply. Large organizations have a much more difficult time, as many of them don’t do a good job now and are not necessarily motivated to correct their behavior, and that’s why legislation is important. I am hopeful, that when it is all said and done, the legislation has some teeth otherwise it will be useless.