I think this was disused a few days ago in a similar HN comment thread. Turns out, the US has way more data-tapping anti-privacy laws than the EU - only that the US more or less secretly adopted them and forbids any company from telling their end-users.

Whereas you hear more about "data regulation-attempts" in the EU because it actually still has very strong privacy-rules and when trying to alter them there is a real public debate and not a hush-hush secret commission that gives security agencies access to all user data without public notification.

Europe already have a thriving software industry, and in fact is probably the leader when it comes to having the most influential and biggest FOSS projects, since so many of them originate in Europe :)

If I had to chose between "control and regulation and healthy community of FOSS" vs "no control or regulation, and healthy community only for for-profit companies", I know what side I'm choosing.