I was reading this article at lunch, and I am of mixed minds about the issue. On one hand I applaud Google for doing the right thing by consumers, the fact that FB limits your ability to access your own data, and to export, while also deciding to reveal data you set as private to any scummy third party app maker (and occasionally they make things you had set as private go public without telling anyone in advance) makes me think they need the industry to act as a bit of a watchdog.
On the other hand, Google has had some issues with its own data retention. I am aware they try to practice a platform of “Do No Evil”, but they also make mistakes. In the end I fear some sort of wacky legislation dreamed up by old white people who know nothing about how all this works coming into play.