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I totally agree with you that it is not possible for a regulator to predict the future with respect to how their decisions impact a market. However, I think that is only an argument against hasty regulation, as opposed to regulation in general.

I agree that hasty regulation would probably have more unintended side effects; however the other points still stand. Prohibition, for example, is always accompanied by a black market. There is _always_ an unintended consequence of any regulation. GDPR will likely add a tax on individuals as large companies pass through compliance expenses to us. Real privacy threats (INCLUDING THE EU) GDPR is meant to block will still continue to operate.

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