Silicon Valley overshadows its transatlantic rivals. But as artificial intelligence grows – and with a global summit on it this week – some think it could offer a Euro startup the chance to become a new Google
The reason why the USA has so many tech gigants and the EU doesn’t has nothing to do with talent or market size, but instead everything with low taxes, lax regulations, massive tax breaks and generally the political will to shovel billions into private companies and letting the population pay the bill for it.
Ireland and Malta are the countries most overseas tech companies (and gambling and porn companies) choose as their European seat, not because they have an amazing amount of great skilled talent, but because they have really low taxes and regulations.
Also, the EU really doesn’t want companies that are so big and important that they are more powerful than the government.
Lastly, another issue is that the EU, when handing out money to companies, prefers the Airbus model. Instead of concentrating everything into one city, like in Shenzhen or Silicon Valley, they like to spread everything out over all of Europe.
I call complete and utter bs. If taxes where a reason, Silicon Valley would be on Virgin Islands.
The real reason is, that you need talent and you can attract global talent with the global highest pay. US was rich before, so global talent naturally gravitated towards it. Furthermore and probably foremost, the US were decades ahead of most countries after WWII. It is no suprise that computerization happened there first and that subsequent business models like private operating systems could develop there first, as a very result of that. Everything boils down to the trajectories of the war.
I wish the commission would know this instead of sabotaging privacy all the time. Because I firmly believe that Europe only has a prosperous future when it fills the vacuum of soft power that the rampage going US left after 9/11. Being a safe haven for dissidents, cryptography and open source technology is the way to go imho. Europe can’t compete financially with US or China, but it can be a place where innovaters come to realise their visions while having huge quality of life.
but it can be a place where innovaters come to realise their visions while having huge quality of life.
This. In all facettes.
This should be the niche were europe can be a real opportunity.
Unfortunately in reality I think this is difficult to accomplish due to the economies being under pressure with other economies as well.
The reason why the USA has so many tech gigants and the EU doesn’t has nothing to do with talent or market size, but instead everything with low taxes, lax regulations, massive tax breaks and generally the political will to shovel billions into private companies and letting the population pay the bill for it.
Ireland and Malta are the countries most overseas tech companies (and gambling and porn companies) choose as their European seat, not because they have an amazing amount of great skilled talent, but because they have really low taxes and regulations.
Also, the EU really doesn’t want companies that are so big and important that they are more powerful than the government.
Lastly, another issue is that the EU, when handing out money to companies, prefers the Airbus model. Instead of concentrating everything into one city, like in Shenzhen or Silicon Valley, they like to spread everything out over all of Europe.
None of that is even remotely changed due to AI.
I call complete and utter bs. If taxes where a reason, Silicon Valley would be on Virgin Islands.
The real reason is, that you need talent and you can attract global talent with the global highest pay. US was rich before, so global talent naturally gravitated towards it. Furthermore and probably foremost, the US were decades ahead of most countries after WWII. It is no suprise that computerization happened there first and that subsequent business models like private operating systems could develop there first, as a very result of that. Everything boils down to the trajectories of the war.
I guess, you are American? In that case, please read up on European history.
I would like to add that foss is very strong in europe as well.
Due to our ambitions in being privacy respective and libertarian for our software the communities thrived.
I wish the commission would know this instead of sabotaging privacy all the time. Because I firmly believe that Europe only has a prosperous future when it fills the vacuum of soft power that the rampage going US left after 9/11. Being a safe haven for dissidents, cryptography and open source technology is the way to go imho. Europe can’t compete financially with US or China, but it can be a place where innovaters come to realise their visions while having huge quality of life.
This. In all facettes.
This should be the niche were europe can be a real opportunity. Unfortunately in reality I think this is difficult to accomplish due to the economies being under pressure with other economies as well.
This shift is no easy task.