I think if the legislation ball ever gets rolling two things we're likely to see, because they're low-hanging fruit, are the end of mass tracking on the internet and a meaningful shift in who controls the data gathered.
I can imagine a platform akin to internet banking where you manage your data and its usage.
Something I'd love to see is a "publication" of big-data algorithms. A private entity designs the algorithm for profit and leases it and you run it in your (trusted) environment, owning both the input and output. Nothing leaks.
