[Vespasian]

And we mustn't forget that Big Tech companies neither pay many taxes in Europe nor do they employ a lot of people either. Most of their development and production happens elsewhere.

(Relative to their size).

They have therefore little political pull on European legislator's (beside flat out bribing them which, despite everything, isn't helping them).

The cherry on top is that all those regulations can be used in negotiations with the US in the future (e.g. to provide EU law enforcement with equal access to the data of American citizens)