Silicon Valley is terrified of California’s privacy law
This law is a step in the right direction, although in its current form it's toothless and uses disgustingly submissive language (e.g. the user may not out or the user needs to be informed about how theur data is going to be abused). The final goal of such laws should be to poison user data: so that collecting it and storing would open all sorts of legal and criminal troubles and that no company would want to touch user data with even 10 foot pole. This will open more ethical business opportunities that currently can't compete with data mining model. An analogy in real world. If theft and robberry was legal, no other business model could exist: if you sell gas for 3 bucks a gallon and your neighbor sells it for a negative price, but sells user address to theft agencies, you'd be out of business long before everybody realises the true cost of that "free" gas.