Important
Disclaimer: This IS NOT legal advice.
Until the mid-2010's the "technology industry" was widely considered to be unregulated, resulting in tremendous harm. The colloquialism "move fast and break things" is from these times, and despite being a proven travesty, continues to influence leadership across industry.
Fortunately, today, both data and related business operations are regulated.
Unfortunately, there are many in leadership roles who see the compliance-related fines and penalties as acceptable business risks -- especially as their expected tenure ostensibly limits personal exposure to said risks.