The worst thing a company can do is try to sell you more soap. The government on the other hand can literally ruin your life (or even end it in some countries).
The EU is doing a fantastic job of keeping everyone distracted by pointing the finger at the "evil American tech companies" while simultaneously doing the opposite when it comes to privacy from government...which is the real threat.
I could point to many instances of this but the easiest one is the EU commission currently pushing a ban on encryption.
And everyone who even ever dares to come near them gets banned too, so employers don't want to risk hiring them either.
When the Nazis did Berufsverbote, that was an unusual and cruel punishment. When Google does it, that's just the free market baby!
Companies can destroy a life just fine.