> We basically have two economies, they will certainly only further diverge.
a very interesting take. Given that europe completely failed in developing FAANG-like companies, i wonder how the US economy with the FAANG-like top tech performers removed compares to it.
Of course this removes a significant part of the US economy and is not fair, but it's still interesting.
My core criticism of the EU developing their tech industry are centered in two issues:
1. Allowing their innovations to be bought out by large US incumbents. Much of the latest and greatest IP started in Europe, and is now firmly held by US-controlled businesses who are using it to make bank.
2. Generally having policy which either directly or indirectly prevents large or competent industry from forming in the first place. I don't mean environmentalism or workers rights, but rather issues that the USA has well handled: such as access to capital, eliminating protectionist strategies which prevent mediocre or floundering companies from being out competed by startups, and what appears to be a total fear of trialing new approaches/smoothing out barriers to entry.
a very interesting take. Given that europe completely failed in developing FAANG-like companies, i wonder how the US economy with the FAANG-like top tech performers removed compares to it.
Of course this removes a significant part of the US economy and is not fair, but it's still interesting.