| This is an OZY Special Briefing, an extension of the Presidential Daily Brief. The Special Briefing tells you what you need to know about an important issue, individual or story that is making news. Each one serves up an interesting selection of facts, opinions, images and videos in order to catch you up and vault you ahead. WHAT TO KNOW You’re announcing what? With subject lines like “Announcing updates to our privacy policy,” a surge in privacy notices flooded inboxes last week as many tech companies scrambled to update their terms and conditions before the General Data Protection Regulation, or GDPR, took effect on May 25. The new European Union data privacy law, which passed in 2016, compels firms that gather user data to allow those users to see, as well as opt to delete, the information that’s been collected — or face fines of up to $23.5 million, or 4 percent of a company’s revenue. It’s called “privacy by default,” and the way European officials see things, it’s a basic human right. Why does it matter? Although it’s a piece of European legislation, the GDPR’s consequences will be felt worldwide. In an increasingly globalized world, where U.S.-based companies regularly operate inside the EU, it’s easier for major firms to adopt blanket policies across regions. That means American users — at least two-thirds of whom want stricter privacy policies — will also reap the benefits of the new regulations. | 