EU is definitely miles ahead of USA and other developed nations in building regulatory coverage most IT things. That's a great thing on one hand, but also leads to business and user friction on the other hand, due to the process burden and tech challenges the one need to go through. Every innovation has a hidden cost that gets shadowed by the excitement of the innovation.

Not to mention the huge centralization that is being caused by cloud tech. Centralization creates single point of failures and network effects.