[henrikschroder]

> The EU is claiming jurisdiction over my business

I think this is a huge strawman argument that you've constructed and hinged your entire line of reasoning on.

The EU claims jurisdiction over EU businesses. The reason very large US businesses are caring about GDPR, is because they are multinational businesses with a significant presence in the EU, i.e. they are also EU businesses. And if you're doing business in a country, you have to comply with local law. There's nothing new or weird or over-reaching about that.

When Facebook constructs a data center somewhere in the EU, the local Facebook subsidiary has to comply with local zoning laws, building codes, and labour laws.

When Facebook gathers personal data about EU citizens, the local Facebook subsidiaries have to comply with local privacy laws.

Note that Facebook isn't extending the GDPR protections to non-EU users, because it doesn't have to! It only has to extend GDPR protections to EU users, if they wish to keep their European subsidiaries.