That's thoroughly good advice. Panic reduces efficiency and the capability to react rationally.
>Becoming compliant with this law will cause my business to go under
>If becoming compliant with the law will cause your business to go under that is more or less the same as saying that your business is built on gross privacy violations. So if that’s your busines model then good riddance to you and your company
Hmm, I would nitpick on that, Google Adsense has been ass about getting GDPR compliant, they don't offer any method of serving ads without storing consent including their tracking-free ads. This is not something that affects me personally but I know people running larger websites that rely entirely on ad revenue (premium model is hard since they drive visitors with UGC, most people don't have an account, they don't want to paywall anything or ask money from the people that drive traffic). The site itself is already fully compliant and with exception of very minor changes (minimum age 13 -> 16, adding a "download everything" button) was compliant in the past.
I blame Adsense on that one, not GDPR though. The ad industry has to adapt, pushing the work on the website operators won't help and is not appropriate. IMO Adsense should either offer a fully consent-free ad experience in compliance with the GDPR or operate the consent dialog for the website owner in a non-intrusive manner.
Maybe this means there will be an opening for a GDPR-compliant adnetwork in Europe