So-called Brexit will take a while to arrive...That means years of uncertainty, with tech firms and investors unable to know for sure how regulations will evolve (or devolve) in the U.K. and, indeed, the EU...Germany and France are the countries that have taken the lead on cracking down on American tech firms, such as Google, over their perceived transgressions. Without British pushback, that stance is likely to gain more heft...Then there is the issue of data and its ability to flow across borders...Right now, U.S. multinationals and tech firms are running out of ways to legally process the data of EU citizens. This is because the EU has so far been unable to finalize an “adequacy” decision that would declare the U.S. safe as a destination for Europeans’ personal data...[T]he upcoming EU privacy reforms—the much tougher General Data Protection Regulation—will not apply to the U.K. directly...This means the U.K. will have to reform its privacy laws in line with the new EU rules, even though it is leaving, or face big barriers to cross-border data flows...The majority of British tech startups came out against Brexit ahead of the vote. They warned that Brexit would hurt confidence in the sector and make it more difficult to hire talent from abroad. Microsoft warned that Brexit would make it less likely to invest more in the U.K...The Federation of German Startups also said Berlin will emerge as the winner in the Brexit scenario, although it added: “It is a victory we do not want and will not be celebrating.”...