No self-regulation doesn't work, mostly because people do not really care and do not incentivize companies for good behavior.
But the current legislation is spotty as best and doesn't really help, Google and Facebook are still collecting tons of data while SMBs will be the guys who get sued for not complying 100%.
But the current legislation is spotty as best and doesn't really help, Google and Facebook are still collecting tons of data while SMBs will be the guys who get sued for not complying 100%.