The European Union's new privacy rule, called the General Data Protection Regulation, is officially in effect. To comply with it, some small businesses and startups have had to put other work on hold. The GDPR requires companies that have European customers to get clear consent to gather their information, make data available to correct and even delete data if the customer asks. And the fines for not complying are huge. Lawrence Coburn is CEO of a company called DoubleDutch that makes mobile apps for conferences. The apps collect location information, demographic data and sometimes contacts and job information from attendees from all over the world. Coburn spoke with Marketplace Tech host Molly Wood about how much stress the GDPR has caused him. The following is an edited transcript of their conversation.
Lawrence Coburn: It's been super intense, and I don't think we're alone in that. It's just been a very intense and scary period for a lot of companies, I think because the stakes are so high.