The view from an european citizen:

• In US all is possible, you can collect data, all you want with less regulations. May be you need an acceptance of an user, who doesn't read the big amout of text. With this data there are a lot of business models possible, e.g. prediction of customer behavior. All these good and bad things swap through a backdoor also to Europe.
• The security won't be better collecting data and processing them with obsurious algorithm. Security will be good when people trust in their country. Ok - less interface has to be watched.