Europe's Silicon Valleys
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- เผยแพร่เมื่อ 22 พ.ค. 2024
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Into Europe: Europe has a series of tech hubs, but how do they match up against the real thing?
Find the scripts and sources on the Into Europe website: intoeurope.eu
00:00 Introduction
01:21 Sponsored Segment: Aura
02:31 1- Silicon Valley's Secret Sauce
05:41 2- Europe's Wannabe Valleys
08:41 3- What Europe Needs to Do
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Contact information:
Email: Into.Europe@outlook.com
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sort your volume out - too low
Europe buys American companies all the time and throughout the last 80 years. A French cowardly turd will never be satisfied with a fair capitalist market as true competition only exposes your inferior acumen
@@Gudha_Ismintis Nah, the volume's fine. It's the lighting that needs sorting out. He needs to take a course or something 😁
I believe you guys misinterpreted why Europe don't have a Silicon Valley at the first place. It's tightly connected with the culture.
Take a regular Germanic/Anglo-Saxon high school, it's rigid with foundations. You're fit to become A, so you gotta do B. The American system is more liberal, you can be whatever you want to be. You dream big, follow that dream even if it's a risky path. America itself was founded by Europeans who did take the risk.
This video left out one of the biggest issues, which is that the European domestic market is much more fragmented than the US or Chinese one. And apart from Erasmus, not a lot is being done to make Europe grow closer together culturally.
What's Erasmus?
@@pr1yanshu A European scholarship program for exchange students which is a big part of the reason why the most pan-european minded people you'll meet are university educated.
There's also Interrail (a subsidized Europe wide travel ticket for citizens) but apart from those 2 programs, people aren't really incentivised to interact with other Europeans, which is how stuff like Brexit happens.
@@majorfallacy5926 I see....thanks for sharing
@@majorfallacy5926 I agree with your point of Europe being heavily fragmented, but mind you, Erasmus in particular is benefitting students who will likely graduate into the higher paying jobs where they can get away with speaking english, where they can make use of the European labour market. For most people in the EU this is completely useless - they'll never land a well paying Job in one of the EU capitals. Why should they care? They'd probably be better off with a protectionist economy. Only the lucky few benefit from that, and corporations obviously, but even those Erasmus students will all end up in the same 8 cities.
@@mysterioanonymous3206 Individual protectionist countries in Europe are too small to matter on the international scene. EU on the other hand is an economic superpower (with flaws). So i think, with evidence provided by Brexit, that the for most people they are way better of with a strong EU than without. I do think that EU could do a much better job of telling how they benefit most Europeans.
With german and spanish bureaucracy you can't have a silicon valley
You can add french bureaucracy to this...
It can’t be that much worse than California taxes and regulation
@@DeezNuts-pq9rbLOL California isn't even close. In Spain you're already at 37% income tax rate after ~38,000 USD(converted) in income. In Belgium you hit 50% rate for every dollar above ~49,000 USD. This isn't even including social security contributions which are often 20-30% total employer + employee contribution share.
According to the OECD:
For every dollar a company spends on the average Belgian worker, over 50% is taxed. For every dollar a company spends on an average German worker about 48% of it is taxed. Similar rates in France, Austria, and Italy.
And generally bureaucracy is bad all over. Regulations are extremely complicated to navigate to help create a terrible business environment.
The main Problem is the small market where you start. Tech growth best in big markets. If you start some tech in English or another big language it will go well also in Europe.
@@DeezNuts-pq9rb ufff just being a citizen with a regular job as an employe is a bureaucratic nightmare in Germany.
The main problem, in my opinion, is the lack of coordination between Europeans. USA is one country whereas EU is a confederation of countries in which each one tries to outrun the others. Without having a comprehensive and common strategy, Europe will have a tech inequality between West and East.
It would help if it was more coordinated through the EU, but a lot can be done at members level, you only have to look at the likes of Japan or South Korea, which are far smaller as economies go.
It all boils down to drive and having the political will to make it happen, which in Europe, there hasn't really been much of a push in that whereas there has in heavy industry.
While there is certainly a difference between US states and countries within the EU, US states absolutely do compete with each other. It's very common for states to try and offer the best incentives to businesses, for example, to build in their state rather than another.
@@chickenfishhybrid44 yeah Texas can attest to this. They’ve basically been going to every state, saying “don’t like paying taxes in Pennsylvania? Just come to Texas.” They’re basically just undercutting all of the skilled labor from the other states. Hard to compete with that though since almost everything in Texas is cheaper than anywhere else in the country. Hence why Texas is booming
The US is more confederal as a country than the EU is.
Nothing can kill innovation like help from EU bureaucrats or local politicians yearning for Brussels.
@@paul1979uk2000 the us built Korea and Japan and Taiwan European fool
One crucial part of a solution is to stop the brain drain. There is one place that is crammed full of European IT specialists and it's Silicon Valley. Americans are actually a minority among the entrepeneurs and high tech workers there. Most of them are from India or Europe and many are from other parts of the world.
It’s actually insane the level of brain drain that occurs, but I’m not sure how you fix it
China is doing great by bringing the scientists and experts back to China and build the economy
The thing that is interesting about brain drain to the US (into europe has made a video on it) is that less and less Europeans stay in the US making it a bit less alarming than it can seem at first, even tho its still not helping.
This is backward thinking. Brain drain is a symptom, not a cause. Make Europe appealing and people will come back.
Think that's a bit of an exaggeration. I think immigrants may make up a majority of tech founders specifically. Idk that "most" high-tech workers and entrepreneurs are from India or Europe.
9:44 This is misleading. Germany wants to develop a european air defense equipment with a lot of foreign supliers. France wants to keep the number os foreign supliers as long as possible. Basicly, one is more "european focused" and the other is more focused on bringing the product asap
These are exceptions, Germany still buys loads of US made equipment, France is quite alone in this. The general trend in Europe is still currently to supply themselves in the US catalog. Look at Poland, easily the most ambitious in its ramping up today just buys US equipment and sometimes Korean. France, which is the second arms exporter in the world in 2019-23 has little to no customers in Europeans.
@@lucaj8131 I know. What I said remains true. France's oposition to the sky shield initiative isn't because they want their system to be the default but instead because they want european supliers
@@lucaj8131this isn’t about European buying French products this is about European buying Europeans products, like France and Italy produced their own version of a system equivalent to patriot and its very good, there is also the meteor and the euro fighter that show European countries can built very competitive weapons, in the case of the meteor its the best beyond visual range air-air missile in the world.
@@ni9274 I took the french as an exemple. In Europe generally speaking, countries only buys systems they developed or jointly developed and than buy the rest from the US.
Europe's Silicon Valleys are located in the flattest part of Europe. They aren't in the Alps. Are they even valleys?
You can call them European Silicon Plains.
I live in the silicon Fen...aka Cambridge.
Grenoble is in the alps lol
Europe's silicon valley is located in fantasy land.
Grenoble?
Silicon Valley is in a valley but it is not surrounded by mountain but hills
While mentioned in passing, it seems like you may still be underestimating how much getting so much talent in a region is what makes it in unique. The US has dozens of major cities that have some level of tech companies locally too, and it is pretty natural for universities with comsci or engendering programs to develop relations with companies that need large numbers of those type of employees (or having come from founders went there).
Two Silicon Valley characteristics you only briefly mentioned deal with how Californian culture relates to "talent". Firstly, CA has a tradition as "Land of the Misfit Toys". People can be eccentric, off-beat, and independent, as long at they are talented. Secondly, that these people gravitate to "Valhallas": educated, cultural towns with an "academic" quality of life and often dramatic landscapes. Californian VC and biotechs are drawn to, and investment places similar to their origins. Thus Oxford, Cambridge, Grenoble. Austin TX for example is a favorite of MBA managers for somewhat meeting the criteria and being "business friendly", but even they're having a hard time bringing in and retaining talent...and it's not often the "creative" or "high-concept" engineering, but middle-management manufacturing. i.e. the perfect place for Oracle to be HQ'ed.
About European defense spending, France is one of the only country that consistently buys equipment and systems from its own companies. And its a policy that Macron is pushing forward at the European level, with mild success, but that might explain how well Grenoble is doing, considering its university isn't as famed as its british counterparts.
why would other European countries want to empower France when the US not only offers better quality weapons but will be a more effective economic and geopolitical partner than selfish delusional colonial oppressive imperial France
If I were to put exactly what the problem with _why_ Europe doesn't have a Silicon Valley is that we don't have a cultural city for where innovation is the main theme. Just look at ancient times in Europe, how cities was usually famous for something; Art, Music, Writing, Philosophy, Engineering, Industrial, Finance, Religion, University etc. All this is lost in the modern context because generalization has won over specialization when it comes to cities today. No cities are special in this regard (no wonder cities), also no cities are demolished to make space for newer stuff so everything has become stagnant, no big changes means no chance of developing the next Silicon Valley equivalent in Europe, this is way Asia has been so successful as they have embraced the new era. We can but ultimately Europe isn't pulling in this direction. If we are going to stand on our feet then we need to build all stuff in Europe that we are consuming and don't import stuff. We need to embrace the idea of *"Made in Europe"* then innovation will blossom.
English should be the main language in Jobs, Higher education, Judiciary, etc
@@firstpostcommenter8078no, thanks.
Quick pushback on the necessity of military spending. Yes, this has been essential in the US - but that's because there's no political will for heavy, lucrative government support of technology intensive industries through government r&d and contracts in the US except through military spending (or health, though that doesn't work as well for the SV model). The United States has a fundamental ideology far to the right of most European countries when it comes to direct government involvement in the economy or social welfare. So it may be possible for other sectors to act in this capacity in Europe, where they have stronger government support. For example, transit and transportation, energy, etc. And at this point, the SV model is sputtering, as most of the "easy lift" options for mass consumer cloud software has been saturated, and they leap from one bubble to the next.
It may be more interesting to consider what a social democratic, European version of something like a Shenzhen could be - building deeply innovative and robust supply chains in a major concentrated area focused on advanced manufacturing, electronics, and enormous agglomeration effects.
I think that is an interesting point, that governments can achieve some of the same achievements in other sectors - and perhaps I could have touched on that a bit more - but why not both?
After all that weapons money is still getting spent.
Cheers,
Hugo
Europe doesn't allow as much state intervention as China .... And it doesn't have enough capitalism and super wealthy investors to create companies like Tesla, SpaceX, Facebook, Google, Amazon and so on ... really sad....
The US spends all kinds of money on R&D besides just military tech. But you have a point.
US spending on R&D when measured as % of GDP is higher than Europe. This is all nonsense cope.
Haha good luck. You can have a comfy neutered social democratic system or a pioneering dreaming innovative system, not both. Cope more.
Just discovered your channel recently. Love this content that focuses on Europe, and its economy. Keep it coming!
I see so much remarks on the comments section. I want to say good work and thanks for the content you adress essential topics for Europe. Keep it up
I appreciate that!
I think you underestimate how impactful European regulations have been on stifling the European tech sector. European tech companies have to compete with American companies while being poorer, having worse access to talent, and having to scale in an extraordinary restrictive regulatory environment. Like, how would one expect a European tech company to be able to compete in that contest?
The best solution would be for the US to regulate.. well, anything really.
@@Lilliathi how is that solution to Europe's problem?
@@Lilliathino, is for us in europe to finally de-regulate
@@santiagoravotti5508
And end up with the same corporate owned state as the US?
@@santiagoravotti5508 ah yes let's follow America in its hyper capitalistic ways that would skyrockets prices of certain cities rent to 5k+m and force the local population to live on the streets. Sounds like an amazing plan man you must be American because if you're European you failed at school homie.
Silicone Valley is a network pf people and resources. In the old day this required people to be geographically located near each other but this is becoming less so. By the time Europe gets around to building a Silicon Valley it may be obsolete.
When it comes to software, maybe you are right. But hardware development still needs a certain closeness.
European cope
The issue is that EU market is not integrated well enough as USA or Chinese markets. When you open a company in any USA state you don't have to reopen it again in another state. Your mobile internet works limitless in any state, not just the your home state.
Point being that... while EU claims to be single market, a lot is still missing in that department.
I overall agree with you, but the mobile internet situation is much better since roaming extra charges were abolished in 2017
A single capital market makes total sense. It’s no coincidence companies like TSML and Novo Nordisk are listed on the NYSE
There is also Silicon Saxony for semiconductors, very smart planning over two decades: TSMC, Bosch Semiconductors, Intel (with the world's smallest nm process), NXP, Infineon, ASML, XFAB, Global Foundries etc.
Although burocracy and high energy prices are putting not only Germany but Europe's competitiveness in the semiconductor sector under threat
Isn’t ASML in the Netherlands?
@@nathanlewis42the HQ.
@@RsOnTheStreetSNot only the HQ, they have multiple R&D labs, production and assembly facilities. Their chip machines are exported all over the world from Eindhoven. Their industrial complex is huge for Dutch standards, 14,000 people work in R&D and 26,000 people in HQ, production and assembly in Veldhoven, a suburb of Eindhoven.
A lot of graphics in this video seem to be missing or not finished.
Ohhhh damn, I had a layer that was marked as hidden after my last render and quality check...
The key is access to venture capital.
And government contracts
Does that mean printing new money? Or artificially low interest rates?
So long as you can go from €80k a year to $350k a year by moving to California it will be very hard to keep talent in Europe.
Moved here from the Bay Area and over the course of ten years probably lost about $2 million in opportunity cost.
One cultural issue, European companies and consumer are more risk averse and are not as comfortable buying products and solutions from young startups.
Europe only exports tech Regulation
Great video, well researched and high quality. Only, I'd say you are right from the UK, in particular from my London perspective and the golden triangle Cambridge, Oxford,and London.My point, I export professional services in information technology from London, and to none other than the Netherlands. In fact, this innovative start-up is headquartered in Amsterdam. Incidentally, the UK's 2nd largest export market after the United States, and other than Germany or China(UK's largest trade surplus in services).
I'm surprised Dublin isn't on that list.
It's nearly universal policy of continential Europeans to deny that Ireland actually has any tech companies physically in the country. Most of my friends in Ireland work for native Irish tech companies on high salaries that do most of their business in America. It's a genuine extension of Silicon Valley, unlike in Germany or France.
Vilnius Lithuania should be there
also cities in poland and romania ...
Tallinn is better than Vilnius in this regard
@@vadergrd Clooj?
When I google "Vc per capita europe", it says that Estonia is the best in that. That info is by dealroom, a source they used in this video. Could someone provide a source for the graphic in 6:31 ?
These are my own calculations based off of the Dealroom report. So VC spending in Deeptech per metro area per capita.
Cheers,
Hugo
@IntoEurope Okay then the statisics make sense, Estonia has a really small deeptech sector, but why Deeptech? Deeptech is only a small part of all startup. Did all the other statistics use deeptech figures? I donät think they did. I like your content, and wish your channel does well, but this is very confusing.
The specific report I focused on yes, since it was on Europe's deeptech funding, but fair enough on including/mentioning software, its a distinction I should have made better.
Cheers,
Hugo
There's no reason why the Europeans can't do it, they've got a massive economy, especially if combined through the EU, they've got the resources and skills to do it, it's just a matter of having the political will to make it happen, and it does seem like the tech industry is growing in Europe, but far more needs to be done, especially at an EU level to pool resources together.
In the end, if countries like South Korea can build up quite an impressive tech industry, the EU which has far more resources to play with sure can, it's just a matter of having the political will, cooperation among the EU members at an EU level and the drive to make it happen, which if they did get there act together, they've got the core ingredients to have a big tech industry like the US or China has, and having the EU as a big player in the tech industry would be good for us all as it would mean more creative ideas, competition and choice, we all would stand to benefit.
Personally, I think it's only a matter of time before EU countries get onboard with the tech industry, the tech industry after all is the future so it's going to keep playing a bigger part of the world economy and this isn't just for Europe, it's the world that needs to get more involved in high-tech if they want to stay competitive long term.
Your optimistic about Europe's abilities
Bro you're gonna make a lot of Europeans angry by suggesting that there is something about the US that they are jealous of...As far as "Culture" is concerned, Europeans are proud of the fact that they get three times as many days off work per year as Americans. Steve Jobs worked about 14 hours a day during his entire career, Elon is kind of similar. Think about that....
You forget one thing. Netherlands has the most important tech company in the world...ASML. It manufactures 90% of the machines that make high end microchips.
Those machines use a lot of patents from US
USA provides the blueprints to companies such as TSMC and Samsung to make what kind of chips they need. They in turn provide blueprints to companies such as ASML to make machinery to make what kind of chips they want.
They are just a cog in the big microchip making process and can be easily (but time consuming) to replace.
When the USA pressures TSMC and Samsung to make chips in America, they will also be pressured to buy machines from America.
This process is happening right now.
As a European I would be concerned about the success of the big players in the silicon valley if they would pay taxes. If we compare the market complexity of Europe and the US in the digital sector the EU isn't as bad especially if we just count the number of employees (excluding the people that lost their jobs in the recent months), the money an average employee gains (so without Bezos' Yachts) and the total amount of taxes paid and how efficient these taxes are used for infrastructure, education, healthcare and stuff like this (that every citizen wants but Americans are too afraid to ask for). Suddenly the EU doesn't look as bad.
The point about oxford and cambridge being far from London or Birmingham is not really true.
A train from any of those to London is 50 minutes and £20 pounds which is maybe as long and a little more expensive than travelling from the outskirts by underground.
Don't get me started about cars. Lots of people travel daily from there, it's not that bad.
I have studied in Tübingen, which forms the "Cyber Valley" initiative together with Stuttgart. They're really focused on excellent ML and AI research and education, and they hope that startups will be founded. The research really is excellent, but the startup spirit isn't there yet. At best, people start small businesses, nothing with any potential of real hypergrowth.
There just isn't a tradition of Entrepreneurship yet, and CS students aren't forced to come into contact with entrepreneurship at all. I think it's a missed opportunity.
6:30 Why didn't you compare metro areas? First, you explain how Silicon Valley is a whole ecosystem of universities, government support, VC capital, etc. spread over the entire Bay Area, for then to only plot towns.
Do note alot of the problem is communication.
Loans are offers of trust.
Communicating why you should be trusted is the #1 thing to actually get investment.
Same thing with university talent.
Huge tech layoffs in silicon vally recently.
And tech jobs + covid happening means remote work is very possible. So if you are an eu company just high some of the tons of layed off silicone vally people as remote work.
The fact this possibility isnt known much is a communication issue.
One could point out key details. Usually european companies, in a similar way to China, prioritize developing competitive products over profit margins. Because the profit margins are low their stock is also low.
It will be fun to include the drawbacks of having Silicon Valley in your country. The extremely high cost of living in the nearby area causes people to live very far from workplaces and commute hours every day, the unaffordable renting and housing prices, brain drain in other regions, tech bubble risk....
EU capital markets union will be a failure. There's no plan to eliminate double taxation on dividends for example, becuase there's no single budget (fiscal union). Basically effective tax rate will still be higher than 40% for cross-border investing, making it the same or more expensive than putting money in China or US, Japan. As a retail investor, i know from experience i pay higher fees and taxes investing in Sweden than in US.
there are tax agreements for modt contries so double taxing isn't happening in most cases
@@Leicht_Sinn No. Tax treaties have 15% minimum withholding tax. That's why they exist. That's already a double taxation. No double taxation would mean to cancel those treaties. Plus your local country tax (usually 25% or more) you get to 40%. Now, most treaties aren't even respected, meaning they don't take 15%, but even more, and if you want the refund, you need to reach fiscal authorities and pay fees, often higher than your refund (in order to get back 5€, you'll pay 7€ in fees and duties to governments). So people don't even ask for that refund and those tax treaties aren't applied. It's madness. France and Germany are the worst actors in this story. These two ask even 28€ or 120€ to release tax receipts proving you got a dividend. Scandinavian countries ask 0! Then you should use these receipts to reach your local authority and giving them other stamp duties and fees. Most retail investors get few euros in dividends. Again, tax treaties aren't respected by governments, and even if they did, you would still pay 15% more than in your home county. Small investors just bring capital in US, or UK. "Capital markets union" is not meant to solve this... EU will get this process a little faster, but they still want to tax the hell out of you. Capital and savings are treated like shit in Europe.
Tax paid in a foreign country should deduct from your tax in the country where you have tax residence@@960john
poland is def an upcoming tech hub
I'm kinda disappointed you didn't delve deeper into the cultural aspects, since I think this is the biggest factor preventing Europe from rivaling the US in many areas, including tech. I'm originally from NY but have been living in Europe, more specifically Austria, for the past 25 years or so. During that time, I've come to identify many of the reasons why Europe lags behind the US economically, technologically, etc. In my opinion, the biggest reason has to do with culture. Since the end of WWII Europe seems to have lost its confidence, when this is combined with the rigid hierarchies and Old World ways of thinking so prevalent across the continent, Europe simply has NO HOPE of ever catching up to the US, no matter how many billions EU governments throw at their tech start-ups. Here are just a few examples to illustrate my point:
1. I once used to mentor this teenage kid, he was 16 years old at the time and was without a doubt one of the smartest kids I'd ever met. He spoke perfect English and his interests ranged far above and beyond that which they taught at his school. We used to argue and discuss math, physics, biology, world politics, etc., on the college graduate level...did I mention this was a 16 year old kid?? So one day he mentioned how bored he was at school. Turns out there's NO Honor's Society or programs for gifted kids at Austrian schools. No matter how smart you are, you MUST attend the same classes and take the same curriculum as every other kid in school. Too bad if you have the IQ of a Mozart or Einstein, you MUST take the same courses as everyone else which are laid out and mandated by the state. There's no skipping grade levels, no Honor's Society, no AP courses, no extra-curricular activities, no academic programs - your genius brain simply languishes away being forced-fed the state approved curriculum. Compare this to the situation in the U.S. - I immediately skipped two grades when the teachers found out I was too advanced for my peer group. I was put in the honor's class system, given AP courses and after school I took college level computer science classes at City College (NY). There was A TON of state funded extracurricular academic programs - I spent two summers doing research in marine biology with the best scientists in the world at the Woods Hole Oceanographic Institution, MA. The state paid for ALL OF THIS, all it cost me was my physical presence. I've checked with all my European friends and they've informed me that there's nothing comparable to this in Europe. You're born, you go to school, you graduate, you get a job, you go on vacation every year to Greece or Spain - that's the European system, and that's the European dream.
2. Another HUGE difference I've observed living in Europe is that excellence tends not to be rewarded and promoted here. Before I moved to Europe, I got my first job after college working a desk job in the HR department of a large insurance company in NY, basically as one of the office assistants. When my supervisor found out I was a computer nerd, she had me program a database for the office. That database saved us so much time and personnel costs that productivity shot through the roof in our department. Before I knew it, I was being summoned to the Executive Vice-President's office on the top floor. This guy was like 14 levels above my pay grade, so I was understandably nervous. He said, "I understand that you created that database everybody's been talking about". I was so nervous, I think I mumbled "yes" or something to that effect. He then asked about my background and what I thought about my job, etc. Then to my surprise he mentioned that they'd been wanting to take the company into the "digital age", which meant digitalizing all their records, optimizing work processes, etc., and asked if I'd be interested in taking over the project. My jaw fell to the floor! He told me to go through the building and find an office that I liked, then he created my own department, gave me a staff of 6 people, my own parking spot plus a big fat salary increase. I was to report directly to him, which meant I leapfrogged over everyone else making me my own boss. For the rest of my time at that company they gave me whatever I needed, whenever I needed it and everyone was full of praise and support. Fast forward to living in Europe. I've worked at enough companies here to now know that excellence is NOT a desired favored virtue. If you're bright and intelligent and full of ideas on how to improve things, you WILL be bullied and cut down to size! There's a very RIGID hierarchy structure here in Europe and if your bosses so much as suspect that you might know more than they do, they WILL make your life a living hell. I was warned about this by other expats when I first came to Europe but I simply ignored their advice and chalked it up to petty feelings of resentment. Now I know EXACTLY what they were talking about! Here in Europe you're expected to know your place in the hierarchy, you must address your bosses by their titles and you most of all, you must be very careful NEVER to outshine your superiors. This means hiding your intelligence and NEVER volunteering any ideas that go against official dogma, even if that idea could potentially improve productivity. I kid you not!! When your boss calls a staff meeting in the US, this usually means brainstorming BEFOREHAND and presenting your best ideas at the meeting. Staff meetings here in Europe means bringing a pen and notepad to write down whatever instructions you get from your boss. They're not interested in your opinion, and if you volunteer an idea that turns out to improve the existing work process, your bosses will get offended since your action directly casts doubt on their competence. And this is not just my experience at one company, this seems to be a cultural phenomenon. While it might be more pronounced in the German-speaking part of Europe, I have it on good authority that this is a widely shared cultural phenomenon across Europe.
Given these cultural traits, it's IMPOSSIBLE to have a Silicon Valley in Europe. What makes America so innovative and dominant in the tech industry is not just the funding or the close cooperation with the military industrial complex. It's the IMMEDIATE recognition and promotion of talented individuals, which starts from an early age in school. Their brightest minds here in Europe are being crushed under rigid hierarchical structures that reward titles and hereditary class privileges instead of innovation and intelligence. That's the reason why Europe's brightest and best eventually all migrate to the US in order to pursue their goals.
Eespo, Helsinky - my god, you really need to check your Finnish names. It's Espoo and Helsinki.
I think the Chinese managed to replicate Silicon Valley the best and that is Shenzhen - there are a lot of interesting projects coming out of Shenzhen, with lots of technology share/partnerships in that city.
China's ONLY advantage, and it's a strong one, is a Billion+ people in it's market. They don't have the VC Funds or Independent Leadership to compete
Europe is closer to China in tech then China is to the US though...
I think you're overestimating Shenzhen and China in this regard though. It's not that China is doing many tech innovations, they're great at mass producing things that already exist (like mobile phones and EVs).
SV is literally the envy of the world.
10:10 "can be resolved over time"; that's your key to failure, especially in tech. Europe has all the resources it needs, except speed.
I feel that focusing on the military aspect of funding only leads to more wars, to make use of the newly developed technologies.
Although budgets do need to increase, due to the unfortunate global escalation caused by strained and almost non-existent resources. Building a bigger war machine will only lead to more suffering.
However, investments in R&D, in computing, into AI systems and automation will almost definitely lead to less human suffering and abundance with the re/strained resources we have left.
Not only that, they will empower us to utilize resources we couldn't even imagine as yet. Along with the ability to create a plentiful environment for nature and humanity to coexist.
Spot on for military spending. Remember the massive impact Ruhr valley had in German and European economy and it's primary driver was military needs.
Sweden btw, has very well developed military industrial complex, so does France and UK. This is not an accident. With it's military expansion and plans Poland will be future player and will supplant Germany in tech
Malaga in south Spain is a huge tech centre right now too, you should’ve mentioned it
also Basque country
Im american but a native French. Honestly the biggest problem in europe is the mentality. They live in the past, old buildings, old history, old traditions, old mentality and old people. It is an old man striving for security and stability in contrast to the youthful ambitions of USA.
In the end, the us is not that different than Europe, simply younger. Think about england in 1880s; more patriotic, more naive, less civilized, uninformed about other nations and at war constantly. Western Europe follow a similar pattern.
What Europe need is youth and belief.
A bit rich coming from someone that left in their youth.
Europe will import Africans and Middle Easterns to their countries. The youth is only left there
And of course, the eastern members of EU are still sleeping. As a Czech, I honestly don't understand what the goverment is waiting for. It's such a hostile environment for innovation and start-ups. They constantly talking about "country for future" but when asked what they do, they have nothing to show for it.
It's just sad. When people complain that we're nothing but a satellite to the west of EU, they're right, but it's our own fault.
" It's such a hostile environment for innovation and start-ups." Lol Czechia is one of the start-up capitals of the EU. We have multiple incubators in the various larger cities. The laws are literally one of the most neo-liberal on the planet. We literally have 0% tax for capital gains (after holding the stock for 3 years). Czech innovation is in line with our other global rankings - i.e. we are around 30th in the world for startups and everything else.
@@serebii666such a great country that people stop having kids there 😂😂
@@sneedsfeed757 Czechia has among the highest fertility in the EU at 1.7 (2023 UN Population fund data). It is only behind Ireland and France and unlike the 2 former countries, whose birthrates are strongest in their significant population with immigrant backgrounds, Czechia's society is highly homogenous. in 2021 it was tied at 1st place with France with a fertility of 1.83.
@@serebii666 imagine kanging on 1.7 😂.
@@sneedsfeed757 I thought you were saying people stopped having kids? But when caught in that lie, you now try deflection? Czechia is expected to maintain population and grow slightly into 2100, since it is popular for professional immigration, especially among Slovaks, Italians and Ukrainians. Imagine coming into the comments, making shit up, and when called out try to move goal posts. Sorry buddy, but you know nothing about Czechia's state or prospects. Maybe read a book once in a while ☺☺
Europe only has SAP. Maybe SAP should buy those startups and try to expand? Not hearing much from them.
I think SAP only really cares about ERP and if they buy companies/startups it’s so that they can absorve they’re products into the SAP ecosystem, plus they have a monopoly at European level of being the ERP of choice of massive companies for a lot of years, which grants them stability because for some it’s unthinkable to change given the costs included.
I like that your brought up pension funds
Thr UK and other parts of europe have some start ups right on the cutting edge but somehow the locals dont invest locals
As a result there is no liquidity in the stock market and firms cant get good valuation in the local stock market and thus they all list in NY
The UK chanceller is trying to get the pensionfunds to invest more in British business
Its not a bad idea but even it works it will take a while to trickle up
Norway has a good tech sector with the likes of Nordic Semiconductor, Nykode Therapeutics and Nordic Nanovector
This is important for our future, thanks for the video 🇪🇺
Yes! Silicon Valleys of Europe are Blessed.
In Sweden many of our largest companies, like Volvo, have the state as their largest share holder. Couldn't EU insitutions/countries buy up the shares of startups to prevent them from being bought off by US tech giants?
volvo AB is owned by the chinese geely they own 82% or there´s another volvo company that i´m not aware?
@@santostv. Geely only controls 15,5% of votes (and 6% of shares). The goverment controls of 27,9 % of votes and is the largest shareholder .
You can find it in Volvos site in 'Information om ägande'. I've heard that 85% story somewhere else I think, I don't know its origin.
Geely is only has nine percent of shares and 15% of votes. I have heard that one eighty ninety percent story before, don't know its origin.
@@santostv. Geely only has nine percent of shares and 15% of votes. You can look it up in Volvo's 'information om ägande'. I have heard that one eighty-ninety percent story before, don't know its origin.
@@santostv. Geely only owns 6 percent of shares and 15,5 percent of votes.
As an american living in Europe for a couple of years now I see lots of opportunity in the future for Europe, stay positive and ambitious :)
What particular opportunities with high regulations, declining economy and high unemployment energy prices for Europe? Nonsense. I am afraid you will be coming to the US back soon since Europe is collapsing, unfortunately
no bullshit, you just like that we have better worker protections
@@clean280 in California we even have better than yours. Only above that are Scandinavia or maybe Netherlands. Blue states have decent worker protections. And I can tell that in Europe there are only Northern countries with good worker protections. I can’t say anything good about poor ass European countries in Eastern or Southern parts of Europe. So when you say Europe you mean Sweden or Moldova? Who we? I am originally from Poland so stfu
Not a bad roadmap :)
LOL "Patreon Supporters 1" & "Patreon Supporters 2" Lorem Ipsum hehehe
Great video though!
Oh hahaha, my bad
There is only one country in Europe who's tech sector has major overlap and experience spillover with American tech companies and for whom it is one of the main industries in the country and it's not even mentioned in the video.
There’s one in my country Portugal called Oeiras valley the best or nothing 😅
"what makes silicon valley so special"
Well back in the days college (uni) students can start a company in their garage with a can do attitide
Now that garage costs like 500,000 in Silican Valley
Many tech workers from San Francisco are moving to London because apparently London ia cheaper to live in and i suspect a few moved to the continent
No matter how much im pro free market being able to see a doctor with going bankrupt is still important and having some level of public services entice a fair few to move across the pond
You could have checked the spelling of cities for this video especially you were talking about only few cities. It's Helsinki and Espoo. Not helsinky and eespo
Belgrade to Novi Sad in Serbia is next European Silicone valley, come here to us, we are very happy to welcome you, we have really skilled and educated IT engeniers and we are better price wise. You are welcome ❤
Why was Helsinki typed as Helsinky?
Without doubt Estonia is the silicon Valley of Europe, just by looking at numbers, startups per capita, unicorns per capita, it comes in at 3rd place in the world.
You misspelled both Espoo and Helsinki.
No thanks to increasing military spending.
Pretty sure he’s French. That’s not a very surprising take.
What's funny as a Romanian is that Romanians really think we are some sort of Sillicon Valley of Europe when really we're not even on the map lol.
Romania is more outsourcing than innovation .
A true E.U. single market would do a great deal to help. It’s frankly ridiculous that Amazon, for example, needs to operate 27 separate subcompanies, all with separate inventories, separate management, separate support, and separate logistics, in order to cover the European Union. That wildly less efficient-which is to say, more expensive-than having a single, E.U.-wide company. This level of unnecessary duplication hurts homegrown European companies even more than Jeff Bezos. They can’t grow beyond their home nation without setting up entirely separate organizations in each and every member state. That takes time and money, two things that startups have much less of than Amazon or Microsoft do.
In many ways, Europe’s “single market” is really 27 separate markets which happen to have abolished border checks and tariffs between themselves. The single best thing Europe could do to improve its tech scene (and, honestly, its productivity in general) is to make the single market an _actual_ single market.
The only reason why American (tech-)companies are more successful is that it is easier for American companies to take more financial risks due to the Dollar, the ability to make more debts, the $900 billion defence expenditures that make the USA a state economy and the larger home-market. It’s definitely has nothing to do with talent or knowledge. As for regulations, it seems that the lack of regulations is even an negative factor to US society and politics.
great job kid
Now you need to keep populism from destroying the burgeoning european tech scene. The Netherlands is particularly notorious for shooting themselves in the foot in this aspect
The video missed a crucial point - both American and Chinese companies prioritize income and hard work. In contrast, the European mindset values taking vacations and focusing on quality of life, rather than hustle and growth. Therefore, if you want to achieve success, you need to work hard and hustle, which Europe lacks."
What do you think about the notion of prejudice?
Should we try so hard just to make technocrat who doesn't even pay taxes richer?
@@carthagonova4132 That response seems childish and foolish. A company's primary goal is to make money. If you believe that European companies are not as greedy as companies in the rest of the world, you need to come back to reality. If Europe wants a thriving tech sector, they need to work on it themselves and cannot wait for the government to hand it to them. I would love to see the European tech sector grow and thrive and see what unique perspectives they can add to the tech industry. But it won't just happen alone - you must make it happen. You are free to judge American companies as you like, but they are the ones who pioneered the way to connect the world. This doesn't mean everything they do is good, but a lot of it is.
@@rteammobile Basically, I didn't mean to seriously contemplate the economy sector, but rather to laugh at the low quality of life of Americans despite all their wealth.
@@rteammobile Well, not exactly their wealth, because the stratification in the USA is at a similar level to that in Russia.
Reliance on government money will never produce innovation, unless it's military and you are in an actual war. Even then private funding is superior. That means the country with lowest regulations and lowest taxes wins. Given that EU is basically USSR in these areas, there is next to zero chance to replicate Silicon Valley's success in EU.
Cheers from Hungary!
the investment per capita is an absolutely pointless stat.
Europe has no entrepreneurial culture. All my friends want to get jobs, nobody's interested in starting a company.
Yes but a big part of the problem is that there are no VCs comparable to the US in Europe
Where do you live?
This is such an overgeneralization. There's a number of countries that are more attractive for small and medium businesses than the US for example.
@@123ricardo210where?
The lack of actual good land is a problem. More or less all of Europe aside from Scandinavia is overpopulated. No one expects Michigan to be able to compete with California for high-skilled workers despite lower taxes.
Some parts, like the south of Italy, are losing population relatively quickly
@@fabiogori5572That would be the best place for some kind of silicon valley analogue. Europe is really far north in general so you want to get as far south as possible.
@@fabiogori5572yeah but that comes at the costs of a collapsing economy. Europe's declining population is an issue, not a benefit.
@@Eddies_Bra-att-ha-grejer youre yapping bro
It’s probably not going to happen. But it has to be mentioned that Estonia has been punching way above its weight.
EU's indivudalism is different from US
Europe also has a huge amount of regulations. So much so that it stifles innovation. I'm not saying i dint want any regulation but we trade off innovation for safety. We don't have a risk taking attitude and our policices are not meant for that.
We also don't have shitty urban planning, school shootings and rampant fentanyl zombies.
oh noooo not the regulations
"huge amount of regulations. So much so that it stifles innovation." How can you regulate something that hasn't been invented? When it comes to tech development, it is not regulation that is the issue here, but investment. European societies are older and venture capitalism is not popular here. That is what allows America more leeway - a greater volume of money pumped into everything, regardless if it is sustainable or practical. America wins big, but also loses big as a result - what with examples like Theranos, WeWork, Rivian, Nikola, etc all show in recent memory. Europe spends money on keeping society stable and more equitable. The US spends money to maximize profit for investors.
@@fungo6631 spouting the same over exaggerated "gotchas" isn't going to help Europe
that dont really make sense since Sweden whos both taxed heavily and have regulations but the difference being that sweden invest in inovations the result is Mojang,Ericsson,Spotify,DICE,Bluetooth etc
Few typos: Espoo is written as Eespo, and Helsinki is written as Helsinky.
No my dude, Helsinki is spelled Helsinki in both English and Finnish.
@@suicidesquats9325 Given the commenter's very Finnish username, I suspect they mean that "Eespo" and "Helsinky" are the typos, which, I'm sure you'll agree, they are.
Espoo and Helsinki are right.
The biggest thorn at the moment, in my opinion, is that the EU is composed of countries. It's (understandable so) still "our own citizens first, the EU second". One EU nation's attempt at funding their tech (or any) sector is seen by another EU nation as "unfair" advantage. Which is why the EU regulates funding, to create an even paying field WITHIN the EU. And this does work WITHIN the EU, but nations outside don't play by these rules (regulations) and are thus pulling ahead. And the biggest difficulty is that every nation in the EU needs to feel like they gain more than they pay, afterall "our own citizens first, the EU second". The same goes for making the EU more environmental friendly, which is great. But again other nations in the world give jack shit about it. Any pollution factory, farm, or data-center being destroyed and denied in the EU means one more factory, farm, or data-center for any other country outside the EU (just as polluting if not more so).
It also doesn't help that nations tend to have their own languages. Which is a big barrier for companies, especially start-ups. They tend to be more interested in hiring people who speak their native language, and are also more interested in doing bussines within their known nation's market which obviously has a lot less potential than a market as big as America or the EU as a whole.
Small countries can only build multi-national companies by building their companies on other countries expense. Nokia would never have become a large company if it only had to rely on consumers in Finland. If Finland had been an EU member before it joined in 1994, then would Nokia never have existed.
Because EU bans state sponsoring of companies. And since Nokia made a loss every year all of its 17 first years of existence, then it wouldn't have survived and become the largest and most succesful company in Finlands history. The EU only prevents EU countries to protect its tech firms with tariffs against other EU countries - which leads to them getting bought up by foreigners or getting destroyed by foreign competition before they have a chance to grow up and become something.
So the EU itself is the problem.
What a small country needs is to be able to export stuff to foreign countries, especially those with many people/consumers.
And prevent foreign countries from coming in and destroying their own companies. Is this economic nationalism a form of egoism? - Yes and no.
All countries needs to export more than they import to get rich. That is how poor countries gets out of poverty. But when a country like USA gets rich, then there is no longer much need to export more than it imports. And for Finland it is neither economically profitable or practical to make their own bananas instead of importing them. And also for manufacturing goods it makes sense to import stuff, as countries rarely masters all sectors of high tech industries themselves. And some low tech industries are also desireable to kill off in the home country in favor of more high paying jobs instead - like how South Korea sacrificed its shoe making industry in favor of Samsung telephones and telecom in the late 1990s.
So if we can sell smartphones and importing shoes and toys from China its a win - win both for us and for poorer countries like China. And as poorer countries get richer they will be able to buy more stuff from us. And are we others losers because Finland banned foreign investments and created Nokia? I don't think so. I think the world as a whole are better off getting good consumer products they can choose to buy if they do not like the phones competitors make.
Personally do I consider the argument that we cannot have Fortune 500 companies in Europe because of language barriers to be a stupid and enormusly ignorant argument. Sweden could for example create H&M, IKEA, Ericsson and Volvo. And I do not see why the same rules shouldn't apply for high tech firms as well. If anything do I think that this would be an even less of a concern in this sector, as being fluent in english is almost a must for working with such nerdy stuff.
@@nattygsbord And which argument are you referring to? Pretty sure I said "It doesn't help" unless you are of the opinion that it does help or at least doesn't disadvantage EU companies, ESPECIALLY start-ups, then you're free to explain to me why. I work for a tech company yet not a word English is spoken between employees and in meetings. We also keep our services within our own country because branching out would mean hiring translators, and personnel who are decently fluent in said nation's native language, which is hard to find in an already shrinking employee market. Besides that there are tons of rules and extra regulations to consider when branching out as well. It's great that our employees can speak English, but clients cannot be expected or forced to communicate in English. Yes ofcourse there are big (and small) companies who'll breach that gab, but plenty of companies won't take the risk, or are comfortable enough in their own nation's market to not even feel any need to take such a risk/step.
Side note - geographically, Silicon Valley in he US is dispersing - mainly to Texas.
...was dispersing. most highly educated engineers don't want to live under Texan christian nationalist sharia law
People thought it might go to Florida, too. But I think long term, the boom time might simply be over. Silicon Valley Bank, a major part of the financial system, collapsed. I think that many of the US tech companies have increasingly no longer feel that there is much in the boom years. Yes, there is AI, but that is already starting to be prone to a lot of headwind with Intellectual Property Lawsuits, labor strikes, regulation, and an extreme dose of skepticism among the general populace towards the tech industry as a whole.
@@jenreiss3107sounds like cope if you ask me
@@DivinesLegacynope, most don't want to live in a Christian Taliban state
well. I know about 10 other engineers in my local area who turned down jobs in the DFW area for precisely this reason, soooo@@DivinesLegacy
Europe needs freedom not regulatory tyranny
You can't develop tech sector, while increasing regulation and reducing capitalism at the same time.
> We need government supported tech jobs
> How about military tech jobs?
???
Not health, productivity, energy or financial?
It should instead be to support the government vs goverment cock fighting? Rather than things that dirrectly improve life?
Military tech is precisely what has pushed the economy and standards of living forward for the past 50 years.
This whole video was him telling is that the US tech industry was pushed by a military appetite.
His solution to EU tech inequality was then to just...copy the same exact thing that the US did lol.
Not for China, Not for Japan, Not for Singapore, Not for Hong Kong, Not for South Korea...need I go on? @@lucaj8131
@@lucaj8131 The fact the tech was made to end up in military uses is irrelevent.
In fact its actually less likely to be publicly helpful because:
- the tech has to incidentally be useful to the public since its not actuay being designed specificly for that
- lots of the tech that is created is hidden if possible
- there is less exposure to external industries because the mitary wants to keep things feeling safe from other governments
- the government typicaly rebuilds foundational tech from the ground up to make sure they have eyes on all points of the supply chain, meaning they try to recreate the foundation before even starting to build any new tech
- governmental activity in some cases but not all has very little oversight over resource usage so efficency can be very low and resources can get lost as we have seen before in history
- the government doesnt like to share its tech manufacturing capability, and doesnt even want to sell things that it makes to the public.
The military aspect is absolutely entirely irrelevent in every way.
Corralation is not causation.
You cant just look at tech that has come out of the insane amount of human time invested into the military and go "look at those previous successes, this must be a smart path to efficently make new tech for the public good", without any further thought or logic.
Its truely crazy to think that government military tech jobs are the most efficent way to generate non military public-good tech and tech industries.
@@lucaj8131 The fact the tech was made to end up in military uses is irrelevent.
In fact its actually less likely to be publicly helpful because:
- the tech has to incidentally be useful to the public since its not actuay being designed specificly for that
- lots of the tech that is created is hidden if possible
- there is less exposure to external industries because the mitary wants to keep things feeling safe from other governments
- the government typicaly rebuilds foundational tech from the ground up to make sure they have eyes on all points of the supply chain, meaning they try to recreate the foundation before even starting to build any new tech
- governmental activity in some cases but not all has very little oversight over resource usage so efficency can be very low and resources can get lost as we have seen before in history
- the government doesnt like to share its tech manufacturing capability, and doesnt even want to sell things that it makes to the public.
The military aspect is absolutely entirely irrelevent in every way.
Corralation is not causation.
You cant just look at tech that has come out of the insane amount of human time invested into the military and go "look at those previous successes, this must be a smart path to efficently make new tech for the public good", without any further thought or logic.
Its truely crazy to think that government military tech jobs are the most efficent way to generate non military public-good tech and tech industries.
The space between Oxford and Cambridge is called, The Oxbridge Arc. Let's name it and raise it's profile.
I fear investment here from the government will get heavily political in the UK. It will be seen as investment in the south at the expense of the north (HS2/Crossrail etc) and be neutered as a result even if the govt persists with it.
Lots of weird Euro cope in here.
It's quite simple. Your trade off for extensive government services and protections is a generally weaker economy. You have outliers of course like Norway with it's oil wealth but this is a generally true compromise.
Dear god people, you are getting this sht so wrong. Its not the bureucracy or regulations holding us back, its the simple fact of small fragmented markets. Culturally and by language. There are so many companies doing really well - but usually only in 2-3 markets max. In EU as a whole they cannot succeed as they cannot get the minimum market saturation in whole EU. Very few have - those succeeded and were purchased by US companies - example : skype. Not to mention having no momentum in US market.
You forgot to mention the large single language and regulatory market that is the US.
That isn't as much of a problem as it sounds in the EU, a lot of Europeans speak multiple languages and English is quite common among Europeans.
Many regulations are already done at an EU level for its members, and others can be done at an EU level to kick-start a tech industry.
It's just a matter of them having the political will to make it happen, they've got the economy, resources and skills to make it happen, now it just needs the political will and drive to make it happen.
US laws vary alot more between states than you probably think.
@@paul1979uk2000I am European with many Pan European friends, I would say it is an important factor even today
@@paul1979uk2000 That is immaterial. Companies still need to hire more employees, set up local service centers in those languages and study and integrate local laws as they enter each EU market. Those are all giant fixed costs. There is a reason most of the "big" companies focuse on large markets - the German DACH or Benelux->France rather than open in Austria, then Czechia, then Poland etc. Scaling is much easier in the latter. May Europeans do not speak any foreign languages, about 45% of French people can't hold a simple conversation, neither can Czechs, in English for instance, which is the most common foreign language known.
@@paul1979uk2000just because europeans speak multiple languages is not the same thing as all speaking the same native language,sorry but it's still a barrier. And you clearly have no idea how the regulatory power of the EU explicits compared to the american federal government
not even mentioning silicon saxony is criminal in my eyes, especially as its the biggest hub for semiconductors in the eu
Apparently it doesn't create startups or attract venture capital funding.
@@Ludix147 thats right, but it attracts already big companies
Soon it will disappear due to high energy costs
@@user-rk3vw3pk4w its actually growing, so yeah
Sillicon Valey is moving to Texas. For example Tesla. Guess why? Of course, no socialism in Texas, unlike in California. Do you want another sillicon Valley anywhere in the EU?
It is simple. Abandon socialism, and introduce capitalism, free market, freedom,.... As simple as that.
Right, sure. Keep dreaming about Silicon Valley moving to Texas.” Lol y’all are funny.
There is one thing in my humble opinion is fundamentally difference between EU and US is their investment and product life cycle.
I would argue EU have the , not one of, the best producer goods in the market, , lets use Netherlands as an example ASML is a synonym of photolithography, ASM (coincidentally? also a founding enterprise of ASML) dominates atomic layer deposition, Signify ( Spin off Phillips) is the first to commercialize Li-fi. What make them even stronger if they are supplementary to each other in industrial compatibility, the society is encouraging and fostering the industry but not just a single company success, IMEC (in Belgium) is 2 generations ahead of current consumer electronics, if Silicon valley is a Academia model, then EU is a Vocational one, and each work best in their own domain, one on the consumer end, the other on the producer one.
I watched another video explaining why German software industry never actually become universal standard, sure, they have SAP but not on par with Microsoft as the default software framework, the reason is EU generally focus on the readiness and offer a complete product while for US, launching and pitching is the norm.
So just like the Economy as a whole, EU is simply less tangible and less noisy in numbers than the US but nothing short of importance if not more, in the global supply chain
You missed one main point. EUROPE does NOT allow ENTREPRENEURS to SUCCEED. It boils down to the following
1. High regulations. The EU loves to regulate. Just look at the AI hype and EU reaction is to create the AI act.
2. Lack of scale. American companies can scale to 350m people at inception creating a giant market. European companies have to scale to 50 different markets with different rules and regulations
3. European pessimism. Europe has a stocatic pessimistic view of the world. Americans are naive, deterministic and optimistic. Thus, Americans are willing to take on a lot more risk than their European counterparts.
4. Access to talent. Americans have based their economy on having incredibly smart and hard working immigrants. The USA is the cause of the European, Indian and Chinese brain drain. If Europe cannot make proper incentives for founders. They will simply just leave to the USA
American optimism is becoming an increasingly inaccurate stereotype. One just has to look at our political climate to see just how pessimistic Americans are about their country and the world at large.
Lack of scale ? The EU is foremost a single market area with the same rules and regulations.
I agree with this. I'm from Spain and this is becoming ridiculous. Companies with a lot of earnings are seen as the evil, and will be likely be charged with more taxes.
@@devinmes1868 Unlike you most Americans don’t really care for politics that much, it’s few very loud political people amplified by social media
USA has plenty of food and energy, two things critical to keep people satisfied
I don't think you understand the dangers of AI. Meanwhile American corporations wait on lawsuits to regulate them.
Won't work - Just look at the AI act. Why the hell is the first thing we do thinking about regulations instead of growing this market now or never. We still have time, we could spill billions into huggingface or LAION or whatever those are called and make them big and give them as much freedom as possible Instead we are regulating. Unlike the US where money is spend and the Wild west is allowed to run rampant while trillions are being made and the regulatory comes after the firms are established.
We are basically shooting ourselves in the foot and are proud of being the first to do so.
Eespo on kyllä Suomen paras kaupunki
I didn't know Grenoble (as an American, I was pronouncing it Grin-O-bull, I was way off) until flipping through a book of study abroad programs from AIFS. I ended up studying abroad in Madrid two years ago, but I did go to Walibi Rhone-Alps, a minor theme park between Lyon and Grenoble over spring break so I do have some loose familiarity with the geography of that region, which I guess is a mix of San Francisco and Calgary
It comes down to investment and protectionism. We must not let our up and coming companies be bought out by giant American coroporations.
The framing title of this video is highly Americanized. This idea that Europe needs a Silicon Valley is utterly repulsive