To pre-empt upset Europeans. I'm a proud advocate of European businesses. I regularly bore my friends by telling them about the issues with the European economy, and how we ought to support European businesses when possible. When making purchasing products, the nationality of the company is almost always a factor in my decision making. That being said, just compared to the powerhouses of America... European business do kinda suck - Jack
TBH: a BIG reason Brexit happened is Europhiles act like the EU is essentially perfect. They're too often not just patriots but cultists. More criticism of the EU's AI regulations and lack of tech start-ups is fundamentally necessary.
No reason to preempt anything. Most european companies (especially tech) is bought up in its infancy and integrated into the US companies with the vast amount of capital there. Capital markets is just plain better there. I usually see the American tech companies as a consolidator of tech from around the world (including US itself off cause) that can make all of it into a coherent product that people want to buy.
I’m sorry but Nestle of Switzerland is one of the worst companies in the world. So don’t pretend like European companies are somehow more ethical or something.
@@ws1814 not more ethical at all. Exactly the same, difference being sometimes our governments and authorities actually force them to not be so evil. Whilst it’s more laissez-faire capitalism in the us
@@ws1814 No not more ethical no company that tries to make as much money as possible is ehtical. But inside of the EU these companies are held more accountable. Key word inside of EU. Outside of the EU these European companies can still do their regular awful thing
One important aspect missing from this, is that unlike the EU, the USA does not use a value-added-tax (VAT). This means that if one buisness sells a product to another buissness, and then that buissness sells to another buisness and then finally to the consumer, then sales tax is paid at every step of that chain in the USA. This creates a strong incentive for vertical integration, because if you own all those intermediate companies, then you bypass the intermediate sales taxes and have a competitive advantage. In the EU with the VAT, if your business buys something and then re-sell it or integrate it into a component that you sell, you can reclaim the VAT you originally paid on that product as a tax credit or payout. This makes it actually very practical to have many small, independent businesses to create value chains where each buisness specializes on a very specific product, rather than vertically integrating into a mega-corp that owns its whole supply chain. So only comparing the large businesses between the EU and the USA can give a very skewed picture. ____________________ Also, I think the point about the unity of the US market is sometimes oversold. Every US state, and sometimes even every county or municipality in that state can have different tax regulations, reporting requirements, consumer rights, environmental regulations, etc for companies doing business there. Very similar to the EU but a bit less extreme
This comment is spot on. VAT kills small and medium enterprises dead before they can get a foothold. I used to run a business, a small one in the UK, and we hit the VAT threshold in our second year. It then became impossible to expand due to the tax bills. I just gave it up as I couldn't afford to pay myself, and got a corporate shill job. If the VAT threshold wasn't there or was set at a few hundred thousand, I could have hired someone to help me out and expanded. Who knows how successful it could have been? We were growing, maybe we'd have been huge, but tax rules in the UK and EU are just murderers of small and medium businesses. Quick edit, I should make it clear I'm referring to this comment above being spot on, and I an referring in my comments to VAT and the VAT threshold in the UK specifically as it's been pointed out I might have been unclear.
@@badluck5647 Apple and Amazon are two of the biggest examples of extreme vertical integration in the US economy, where their standard operating proceedure is to constantly look out for parts of their value chain that it's possible for them to assume ownership over. Microsoft, Nvidia, and Tesla also have pretty strong focuses on vertical integration. Notice how e.g. Apple owns their phone business, an app store for those phones, a payment processing system for that app store, and now even own a banking business to finance those customer purchases through that payment processing system. In the hardware side, they've switched to their own in-house developed processors, and have been on a quest for over a decade now to replace their iPhone's cellular modems with their own in-house modems. Apple makes their own motherboards, computer cases, screens, etc. The list goes on forever.
EU: - give us a finished product that's already selling - a 5 year financial plan - a 30% stake in your company - pass all regulations before you come to us = and we give you ~€1 million US: - write a good plan - find people - build a prototype - give us 5-10% stake = and we give you ~$10 million Why would anyone choose option 1?
You idiots forget the eu is not a single country and the eu is not comparable to the federal us government and its states. Every member can constantly disagree on things
They are different countries each with their own policies, for example spain cant agree on its business practices with ireland etc so they do it differently, but each country has less resources alone, Also china literally has even more restrictions than the eu, yet they are far more competitive, your argument is stupid
@@NeostormXLMAX,"fewer restrictions for Chinese companies" apparently translates to "receiving direct funding from the Chinese government". Gotta work on my Chinese, my bad, my bad.
Two observations, as an American who has spent many years in Europe: 1) Europeans commonly hold the idea that America is one big homogenous culture/market. This is not true. At. All. While it is true that the U.S. market is more integrated than the European market, it still possess and must cater to wildly different cultures. This is particularly notable between large cities (NYC, Washington, Atlanta, Chicago, Dallas, Austin, etc.) and rural areas; indeed, that's probably the single largest driver of our current political polarization. Even beyond that division, however, different regions are very distinct. As someone who has moved from Washington, D.C. to Chicago to, most recently, Atlanta, I assure you that those three cities are very different. The market reflect that. As a concrete example, I'd never even heard of a Publix or Krogers before moving to Atlanta. Here, they are _the_ dominant supermarkets. 2) In my opinion, the European market remains far more fragmented than it needs to be. The fact that companies need to set up a separate headquarters in each individual European state, with different logistics, different management, and different inventories, boggles my mind. That creates an entirely unnecessary layer of management, with all the inefficiencies which it implies. As a concrete example, there were many times when, while living in Barcelona, I couldn't find what I wanted on amazon.es, but lo and behold, amazon.fr or amazon.de had the item in stock. Could I order from them? Sure, but delivery cost three times as much and it would take four times as long to arrive. For a smaller European competitor, that's a huge barrier to overcome. European policy, it seems to me, remains focused on protecting the domestic industries of each individual state at the expense of encouraging a genuinely European market. Changing policy to encourage a continent-spanning market, with companies identifying as European rather than German or Spanish or Hungarian, might do a great deal to improve European productivity and boost European companies. I _want_ European companies to compete on an even footing with American, Chinese, and (eventually) Indian ones. I _want_ the E.U. to form a third pole of geopolitics. The first step in that process will be to stop thinking of business and politics as German or French or Polish, and start thinking of it as European.
This is based on market cap of publicly traded companies. Aldi is private, and the other ones have very low market cap compared to their revenue/earnings. US companies tend to have higher Price to Earnings ratio and higher profit margins, and more are publicy traded than in Europe, so for stuff like total market cap of publicly traded companies comparisons, the US absolutely trounces the similarly sized economically Europe. If you were looking at straight revenue of all companies private or public in each region, most of the difference would disappear. This can be seen with fortune 500 global companies by revenue, where Asia is the largest single region nowadays by revenue.
It’s because those cooperates you mentioned are not public in stock markets. That’s why the list and arguments showed in this video aren’t really accurate. If you look at other rankings where private companies are also taken into consideration, you will get another picture and more German brands like Aldi, Schwarz Gruppe, VW, Airbus and Telekom.
Making planes is a hard business. Mistakes are much more harmful to the company than other industries. The A380 failure really hurt Airbus over the past decade and a half. Boeing's recent massive failures will likely help Airbus tremendously though for the same reason.
In fairness, the Silicon Valley mentality also tends to cause quite a lot of economic chaos. For example by _"Blitz-Scaling"_ new business models like Uber and AirBnB, bankrupting all the traditional competition, and then jacking up the prices again. So maybe Europe is better off without that.
@@pbrown0829 Because AirBNB is now commonly *more* expensive than Hotels, while leading to housing shortages and rent increases in cities. Meanwhile Uber is still trying to kill off its competition in many places, but has already shown it will gladly charge riders ridiculous sums when they can get away with it. "better for customers" is also very questionable... and it only works with VC money and by exploiting their workers, I mean, "independent contractors".
@@pbrown0829 I am using hyperbole somewhat. But there is a trend for putting competitors out of business by burning through venture capital, and then jacking up prices once you've cornered the market. Uber is better than cabs in many ways. And part of that is genuine technological innovation. But part of it is also just operating at unsustainable profit margins, and gradually transferring more of the cost onto drivers and passengers by stealth.
@<a href="#" class="seekto" data-time="239">3:59</a>, Using Europe interchangeably with the EU is very misleading. Europe has 50 countries, and the EU has 27. Also, Japan has around 125 million in population, but it does not stop many manuals and products coming with Japanese instruction on them.
Where did you get 50 from? There are 39 with the traditional definition. 40, if you wanna include Turkey , but you might aswell include America at that point with their occupied parts of Germany.
@@bennyklabarpan7002 42 countries in Europe, Plus more for Microstates (Of which there are 6) unless you want to go into Balkans drama and pretend nations like Kosovo or Macedonia dont exist in which case 40 + 6 microstates for 46 or 48 in total, possibly another + 3 if your one of those people that consider the Caucuses Europe also.
Europe is al a consumer union. Just a shittier version with higher taxes. Furthermore, all these idiots form the EU are doing with their big tech regulation acts is lower the standards for startups. For many startiups it is the ultimate goal to be bought outght by a big tech firm, the EU is actively preventing that.
not really. Germany has a 15% corporate tax, US has 21%. Employees are taxed heavily in Europe though compared to the USA. America probably gets the smartest people from Europe thanks to this, cause they can pay much more.
The landscape of big tech is dominated by American companies, and there are a few key reasons why. Firstly, the US fosters a culture that thrives on risk-taking and innovation. This is fueled by a constant flow of venture capital, which is essentially investment money specifically for startups. This allows even small, ambitious tech companies to get the funding they need to grow quickly. In Europe, the culture tends to be more cautious, and the investment landscape is more fragmented, making it harder for young companies to secure the resources they need to compete on a global scale. Secondly, the US boasts a massive, unified domestic market. This allows tech companies to develop their product or service for a large audience right off the bat. Imagine a playground - a big tech company can refine its concept on a vast American "playground" before taking it international. In Europe, things are more like a collection of smaller playgrounds, each with its own language, regulations, and consumer preferences. This makes it more challenging for European tech companies to scale up to the level of their American counterparts. Finally, the regulatory environment in the US is generally more favorable to tech companies. While Europe enforces stricter regulations on data privacy and competition, which are important for consumers, they can also stifle innovation and growth for young startups. Think of it like training wheels on a bike. While they help you learn, they can also hold you back from reaching your full speed. The looser regulations in the US allow American tech companies to experiment and grow rapidly, although this advantage can come with downsides that require ongoing scrutiny.
On the culture side, Europeans are more focused on their leisure time and summer holidays than putting in the very high number of work hours it takes to build up a massive company that is an innovator in cutting edge tech
You missed the real reason - The US govt set up and funded several of those companies - Facebook, Google. Amazon, Space-X - Have all received massive amounts of state funds. The idea the US is some free market nirvana is so laughable it is untrue.
Also it should be added, Silicon Valley, and American major businesses in general. Also attracts talent and investment form abroad. So Hollywood, Silicon Valley, and the like are major international industries based within the US. They archived the world hub of said industry.
Europe and the EU generally are pretty bad to get a business started in. Even if you have an amazing idea you have to start small, and being small is just un-affordable given the tax systems in the EU/UK etc.
@@AlterEgo-en2wx Right, but you do understand that this essentially calcifies the existing players (big and small) and discourages any sort of market disruption or entrepreneurship, right? This is how you stagnate. This is how you create brain drain. Also, this trend extends all the way down to small business. A large number of entrepreneurs are first-generation immigrants because it's easier for them to start their own business than to climb the corporate and social latter in a country that they're new to. Think about the local corner store in your town. In many countries, those are typically immigrant owned. Given Europe's last 15 years, wouldn't it make sense to make it easier for immigrants to start a small business, not harder?
Facebook is a really bad example. They swept through Europe like it's nothing. So, you can build a product that is markable in all countries. That's not really the issue. For the language barrier: Go for English first. You still also have access to the US market from the EU.
@@sokacsavok Yeah, so that argument doesn't really fly. Europe has an issue with innovation due to regulations, lobbying and no financial infrastructure.
This video didn't provide much by means of enlightenment, and you point to a perfect example showing this. We already have economic theories that explain very well the gulf between the US and Europe, and that is taxes and bureaucracy.
If you do a sector wise comparison, European companies are competitive. Pharma, aircraft, fab equipment and so on. The difference is in the software sector, which is also the most profitable sector by far today.
@@kellymoses8566 the bar to entry is low but its a niche field which does not attract much people, its also really hard to become a good software engineer and a carrer where its really easy to burn out, or set up a successful start up and get enough funding especially in europe.
@@kellymoses8566 There is for platforms (like social media or online markets). It comes through a lock in effect, though. Platforms get better the more users they have (both in available content and capacity to train algorithms). So if you start late, you're quite fucked.
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They sold it in 2020 to a Norwegian company but it was from 2004 to 2020. However this is very typical stuff globally these days. Enormous amounts of European investment exists in the US as well to the tune of trillions of dollars, same the other way around.
Europe has plenty of regulations that favor monopolies but hinder small business entrepreneurship. Do you know where American companies park their cash to avoid paying taxes? You guessed right, Europe.
<a href="#" class="seekto" data-time="310">5:10</a> - Ebay lost to a local Allegro in Poland, because Allegro is so much better, even Amazon doesn't do as well as Allegro. Not even close. Why didn't they buy Allegro?
In my country neither eBay or Amazon are hugely popular but we don’t have have a real alternative to Amazon so some order thru the Spanish website after the uk left the eu,aliexpress is somewhat popular and nowadays off course temu is even more popular ,also nowadays online electronics stores websites allows for third party sellers so most buy from there, for the secondhand market OLX is more popular,fb marketplace although vinted is gaining momentum. So has you can see is still quite fragmented even inside one country.
@@eXclusive1 I will copy my response because I can see there are more sharp people here: 1. there are more people in Poland than Holland. 2. Poland is a developing country. 3. It was worth for these companies to move there, so what are you talking about? Man, think a bit before you write something.
Because 1. The US companies has a huge fund to bail them out if they suffer ( The US government) 2. The EU has a different landscape than the US. The EU does not have such a large focus on fuel and tech as the US and the middle east. 3. Some of the most successful EU businesses actually pays corporate taxes.
This is just economies of scale. In many sectors, a bigger company means a more efficient company. This is especially true in high tech. E.g. you spend the same R&D money to develop your electric car, whether you sell it to 1 million or 1 billion people. In a globalized world, the bigger players, i.e. China and the U.S., dominate the high tech sector. The other countries provide cheap labor, natural resources, and luxury goods (e.g. french LVMH, german cars). Because their smaller economies cannot compete with huge economies on R&D. No wonder the U.S. have promoted free trade for decades. Like a fat kid challenging skinny kids to find out who is the heaviest. Now that China is becoming heavier than the U.S., the U.S. no longer want to play.
The US has the most and most liquid capital market in the world. Basically, not only does the US have the most capital for startups and expansion, but the capital can be mobilized and utilized much, much more easily and quickly. That is significant.
@ycplum7062 - You are correct on this point. The capital markets are very liguid and very efficient. A friend of mine from college started his CNC machining business through a small-medium capital company that helped him with the initial investment in a large facility. He grew enough to buy them out and give them a 20% return. He was a talented mechanical engineer and a machinist. He would not have been able to set up a manufacturing enterprise without that capital.
what a great video, I love everything he said, like this always make me wonder what it would be like if we hadn't established financial systems all over Europe
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I don't think you need to translate your software into all of the European languages. I live in Finland and I see people use their devices in English all the time and that's what I do too. Maybe you do in France or Spain for instance where less people can speak English. But I've seen enough people use tech in English here that it might not be necessary and to me Finnish translations feel more annoying and frustrating than useful anyway.
the smaller the country the less power it has to protect its own language. I live in Bulgaria and here even some products does not have bulgarian text on it. I don't see any cool thing here.
Why the US will always have an advantage over the EU: 1) Innovation. 2) High risk tolerance. 3) No judgement if you fail. Just keep trying. 4) The word entrepreneur is not a bad word. 5) Universities that do tons of research with private sector, federal and state government aid. 6) Productivity is rewarded. Mediocrity is frowned upon. 7) A friendlier business environment. 8) Infrastructure that makes things move. From the postal service to the extensive interstate highway system and railroad network. 9) Common language and laws. 10) Higher skilled labor force.
I came to Europe to try and expand our business and we've only managed to make a 6% growth in 2 years while in the US we grow 25% each year. The "euro market" is a joke at best, lie at worst
In what business are you in? If you don’t mind saying. Some reason might be: we have a aging population and older people usually don’t need to buy a lot of new stuff and young Europeans although more consumerists aren’t on the level of sk,USA,china ect in Europe most are toned down besides teenagers that like to “flex” on people poorer than them. The country with habits more similar to the USA is the uk and it makes sense.
@santostv. we do marketing and production for business (B2B) and yes first barrier is languages (too many here), but also, too much burocracy, too much taxes while the cost of living is comparable to the US you end up with way less, and yes I totally prefer this health system but I still think taxes are too high specially for small to medium businesses like us
I wouldn't say every market in the US is fantastic. The entire "If it ain't broke, don't fix it" mentality in the US seems insane if you look at how outdated toilet bowls and light switches are in the US. This is why a company like Tesla can grow so fast there. All the old companies are so stuck with the old ways of making money that they aren't willing to invest in new technologies. So, when a company comes with something so different everyone is willing to be part of it. While in Europe you'll see that many companies actually try to gradually improve their products over time. This makes it IMO more difficult to find new customers in (West) Europe, because most companies already tend to have something good going for them instead of something that really needed to be replaced 25 years ago like in the US. This is why your company doesn't grow at the same rate in Europe. I'm pretty sure many companies either already have an alternative company they're working with or simply don't see any value in your "I can make you even more money" sales pitch. Americans are extremely motivated by money. Which sometimes is really ridiculous, charging for the smallest thing that's often free in the rest of the world. So, giving them the hope to make even more will help you find more customers. Europeans are not that extreme.
I can’t stop laughing tbh 😂 EU just like to heavily tax companies outside of the EU 💀 have you seen how much google pays for its headquarters in Dublin 😂😂
I don't think that large companies are good for the economy. They mostly concentrate wealth and power in fewer hands. I think that most of those large tech companies need to be broken up. In general I think that almost all large companies should be broken up. They make the GDP number go up, it may look cool to some people to see a single company worth so much but it is bad for all of us. Europe seems to have a lot more smaller and mid size companies.
@@David_Box I don't care as much about the overall wealth as I do about more normal people. Something like 95% of all the GDP gains in the last 2 years have gone to a handful of people. What good does that do anyone? The number goes up but normal people are worse off. One thing I found, since moving to Germany, is that I don't need as much wealth to have a better life. I don't need a car where I live, I can just walk to the bakery and talk with friends. GDP goes down since I don't consume as much.
@@Immudzen Good on you for finding a way of life that works, I'm not too keen on useless consumption either. I mean to say that most people expect economic growth as their life goes on. This covers spending for fuffuling non-business related activities, raising children, starting organisaitions, saving up for retirment, all things that only really work if the economy keeps growning. Raising GDP for the sake of it doesn't do any good in of itself, but GDP does approximate prospects in the long term. It affects everyone, not just the very rich. Those in countries where growth has stagnated, like Japan or South Korea have had to deal with the issues caused by stagnation, for example.
@@David_Box I think that GDP used to approximate that. I think that companies have basically just started looting the economy and taking everything. I agree with you entirely that life should get better over time and that I do want economic growth but I want economic growth that I can see in more normal people. Europe has been growing overall but not as much as the US but also more evenly.
Large companies aren't necessarily bad. They are efficient and stable, which garners more trust. Mid and small companies can't do most of the thing large companies can provide. E.g., RU-vid can't be run by a mid-size company. Even Netflix is run on Amazon servers. Small companies can't offer video streaming, app stores, etc.
This video mentioned only minor factors. If you want to understand the actual reason why these American companies dominate, it’s innovation. They are creating the technologies that are driving the global economy forward. Look at Europe’s largest company? This same factor holds true. Tremendous innovation. If a company innovates and solves a problem or improves quality of life, money will flow their way. There’s a culture that focuses on researching and inventing in the USA and the people with the money to fund it are right beside it. The smartest people flock to this area to make their ideas come to life. I saw a documentary recently where Germany is trying to cultivate something similar to Silicon Valley. It’s good they are doing that. A strong Europe is good for the world.
And that makes Hungary's direction even more of a catastrophic ones: we are basically becoming a polluted trashdumpster and both the mainline culture and policies are hostile to intellectuals, as Orbán tries to push down wages and people into factories. But Hungarian education now fails so hard that people are too stupid for even factory and manufacturing works, they can1t speak English, they barely speak even Hungarian and can't follow written instructions. We are fucked.
Yes but 90% of them also have the most massive recalls in the world right after china 😂 europe builds quality not quantity Also 90% of the innovators of these so called magnificent 7 are european with HB1 visas 😂 as the country of america itself is a european invention its like a over achiever son competing with his old father 😂
@@THEPRESSTV Two statistics you gave there with exactly 90%. it’s almost like you just completely made those up. What you wrote is false and you know it. And yes of course the USA is nation of immigrants seeking a better life. Many of those that left Europe were either fleeing wars, seeking religious freedom or economic opportunity. Europe has suffered a brain drain to the USA because of World War One and two. That’s a large part of why you see so many American military installations in Europe. Peacekeeping In addition to force projection to keep Russia off your backs. It has come at an enormous cost to taxpayers in the USA. We could probably have free universities and healthcare for all of our citizens if we didn’t protect everyone but then the world would descend into war again.
@@ScentlessSun didnt make them up not one bit all it takes is a simple google search to verify them sadly your prob to lazy to even tie your own shoe laces Europeans did not flee wars in the may flower they came because they had theyre own sect of Christ others came for richs 😂 because the new world had gold and precious metals to get rich from And im american my self and im sorry i hurt your feelings snowflake but its true even the name america comes from Americao Vespucci an italian explorer europe invented and breathed life into the USA washington was an englishmen as was jefferson and the others they had a beef with the king not theyre motherland england and its people Even the most famous cities in america are named after european ones york in england newyork america get the gist And about you helping these poor countries its not out of the kindness of your heart ill tell you that its taking a page from daddy UKs book of imperial conquest And YOU WILL NEVER HAVE FREE HEALTHCARE AND FREE UNIVERSITY the US already has the funds for it but the senators and congressman need theyre new private jets and mansions 🤣🤣🤣 dont pin the blame on europeans for greedy american politicians thats are basically trillionars 🤣🤣🤣 foriegn aid is barely 10% of the US yearly budget yet a 900 meter bridge costs almost 100 billion dollars Infact the US has said if they have free trade with europe the US economy would increase by 20 percent
@user-yr4vp1jk7j Health insurance is not a big deal. Europeans think it is the end all amd be all. It is not until you are old. Depending on where you live you can just pay for health care out of pocket. What is important is productivity, wages, competitiveness on the job market etc. Thats going to make a much bigger difference in your life.
Well, when you start business using other country's currency. there is no way you can win unless they throw some bone your way. For US companies to explode big, their hedgefund got access to easy USD. In Europe, fund and bank has to trade for those dollars. It's not a rocket science.
@@ws1814 they price thing in USD but pay in eur when it comes to export. Also, EUR is for EU, not reach country. Each country can't really support their company because they can't print the EUR themselves. It has to be done at EU level. So, they're at disadvantage from the start.
A lot of EU (and Canadian, Australian, etc) tech companies end up doing business primarily in the US due to the larger homogenous market, higher incomes, higher levels of investment into productivity (e.g. into SAAS products), etc. I work in tech in Canada and the past 3 companies I've been at have focused almost exclusively on US customers. The bureaucracy and language barriers of the EU make it difficult to make money there while the vast distances make moving any physical goods prohibitively expensive in Canada and Australia.
@@graham1034 bro WHATTTTT Canada is extremely more densely populated,half their population lives only 50 miles away from the us Canada border(we know why🤷🏽♂️).Same concept applies for Australia where 95% of their population lives in its 5 biggest cities(same for Canada js to a lesser extent).but yeah the difference in state regulations vs entirely different countries regulations is an acc good point,but for the first point what tf r u smoking😂😭😭🙏
@thyblackpanther transporting good between large cities like Vancouver, Calgary, Toronto, etc is thousands of miles. Trading to the US isn't as far but international shipping has a lot of extra costs.
why do us companies still dominate european markets with their language barriers? the us companies and european companies both face the same issue of marketing and reaching these different countries. only point out the language barrier or culture seems superficial since they both face the same challenges
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It is also worth noting that investing is different in the US and EU. In the US there is a lot of speculative investing and a big expectation of share price growth. American companies will even forgo dividend payments entirely in service of this share price growth by reinvesting profits. This leads to the massive market capitalisations. European investors, on the other hand, often prefer to receive steady income through dividends, and this is what European businesses target. European stocks therefore often have greater yields than US counterparts.
@@Cdxu22121 It's the complete opposite. People cling onto "sustainable" income, even when in the long term it's far more harmful. There's a reason many companies in America abandoned dividends - they harm a company's ability to grow by having to spend a bunch of money paying investors.
@@DaDARKPassthe entire foundation of the stock market as a concept is dividends, you can say it kills growth but stocks don’t really have a point without them
@@vera_ah I think we have very very different interpretations of what the stock market is meant to be, and it's clear only one of our interpretations has actually allowed for innovation and growth.
So basicaly american tech companies buy emerging europan companies and Europe dosent have massively overpriced mega tech corporations that destroy any competition by shady practices ( for example have you ever wondered why basicaly any computer comes with windows? ). Honestly the only critcism i have here is the not enough stomping on american companies by EU ( and they already are the only ones even trying ). What i would really be looking for i was to criticise europe buisnes would be to look at the massive state owned companies dotted throughout Europe. Those are shady AF . In Poland where i live mostly used as a retirement for politicians.
Let’s make Linux the default os in Europe, stop using eBay use vinted, watch dailymotion instead of RU-vid, use deezer instead of Spotify oh wait spotify is Europe, lets all play minecraft oh wait Microsoft brought it, lets use a European pc manufacturer we don’t have a good one,let’s use a European smartphone we don’t have any good one and noki k themselves and sold of to Microsoft(usa), at least i can drive my European car but whos that in the distance a Chinese car? Unless we start using usa and Chinese tactics,we can’t protect ourselves, we want to be friends with everyone and we get st4bbed by both and called europoor or saying we need to pull our own weight meanwhile we gave the usa advantage to grow globally besides the problem of fragmentation that Europe has that is not compatible with the modern world.
In the U.S., politician retirement homes take the form of lobbying firms which “donate” billions of dollars to PACs in exchange for favorable legislation. That money is then filtered down to specific politicians. It’s basically a giant vote-buying, money laundering scheme. And it got much worse after the Citizen’s United ruling which basically removed any financial limitations between corporations and politicians, giving rise to the Super PAC. I’m not saying that state-run corporations are the solution, but private enterprise definitely isn’t either. The “free market” in the US is less a free market and more a members-only casino that has basically bought the U.S. Congress.
🤣Europe is pretty much dominated by old 100 year old cartels that lobby governments to kill all startups with taxes, so that they have no competition. American companies are competetive like hell.
I’d disagree on 3. You can easily get high quality engineers for pretty fair prices in Europe. There are culture issues though, who will bog them down unless corrected.
@@mildlydispleased3221 Which is emblamatic of the problem, Europe barely has any new major companies popping up, if they do, at the first chance they get, they hop over the pond to the US. It's not like the US is so young they lack century old companies, P&G was founded in 1837, J&J 1886, Chevron 1879. It's just they're not the most dominant companies any longer.
Europe being monopolized by 100 year old companies like Volkswagen (founded by literal Nazis lol) is not a good thing. The old farts lobby EU governments to kill startups with high taxes so that they have no competition.
You never know though. In the 80's, Japan's market cap in the world was over 50 percent. You never know when a bubble will pop up. Invest at least a little bit into the world index.
Entrepreneur here since 2012, the issue has and always will be access to capital and classism. Tony Blair's son has the most valuable ed tech startup says it all. Anyway I have a global product which I am going to register in Delaware to get those American VC funds because the UK is for muppets.
It's quite funny how in this video not once has it been mentioned that ASML is actually one of the most important companies in the world, tech and politically wise.
Startup culture is very demanding. Pulling all nighters, sleeping on factory floors, nights weekends. That doesn't seem very European. Perhaps they're places in Europe like that?
In addition, Europeans and politicians really have look with disdain to people trying to earn a lot of money on their own efforts and risks. It is almost a crime and and most countries are stuck in collectives and income equality. This means you get manhandled from every angle especially taxes (you are not a large multinational yet so you wont reap those tax benefit's) you get discouraged at every corner when you even try so it is better to start in the USA and go to Europe. In addition you also need to arrange stuff before you do it where as in the USA there are a lot less rules and you can do everything and fix stuff later and as a bonus the consumer laws are very good in Europe e.g. 2 years guarantee, right of recalling etc which makes stuff expensive. Labor laws, again expensive if you hire the wrong people you will have to pay a lot! and to finish it off 1001 Carbon emission laws which makes everything expensive and 10% EU tax on stuff outside the EU (e.g. almost everything since there are little to no factories here anymore). I did not include high real estate prices those also count for the USA.
America is getting there though, steadily drifting towards the same type of anti-business mindset which limits growth, California and NY people and businesses are leaving in droves, also due to rising crime.
@@atomicfly777 I have the feeling all those rules and costs is just getting created to destroy the medium and small businessowners so multinationals bars any competition, just like how they do it with certifications
This is exactly it. Be a good little worker bee and we'll take care of you. This works if there's enough to go around. But 15 years of stagnation (Eurozone GDP was higher in 2008 than it is today), aging demographics and a large migrant population that has no chance in this system but has to be paid for... it's not unreasonable to have concerns.
It's completely false that American companies don't have to worry about local regulations. The fifty states in the USA have a lot of autonomy and each have different regulations on companies. You might see things like different warranty or privacy policies based on the state you live in (for example in California you might see something in your contract saying you have the right to see exactly what info is being collected about you, as well as your right to have them delete it).
The European cope in this comment section is unreal. You literally can't take criticism, yet you're so eager to criticize America. Adjusted for cost of living (purchasing power parity), the US has the highest median income in the world. In the world - and nothing Europeans can do, will change this simple fact.
US is Very violent, (much worse than most industrialized countries), the education system is between the worst compared to developed countries, healthcare is just trash, and the average western european person has a longer life expectancy than american one.
Have you tried starting a business in Europe (UK excluded), especially countries like France? It's like they are going out of their way to stomp out anyone trying to launch a startup. It's not wonder we don't see companies like Apple or Microsoft coming from Europe. The entire small business approach by European governments needs to drastically change. Big companies don't start big, they start small and if there's no environment to foster the establishment and creation of small compaies, Europe will continue to lag behind other parts of the world. I've built startups in NA and in Europe and let me tell you first hand, there's no comparison.
It's too much of a anti-business mindset in Europe, that sees wealth and profit as bad, which is also a growing sentiment in the US, whereby our big states like NY and CA are seeing alot of businesses and people leave as the costs, taxes and regulations are too high, and crime is out of control.
Added to that, people don't realize that this attitude extends all the way down to small business. Nobody is shedding a tear for the next Apple or Tesla that won't be built in Europe. But why should it take 3 years for a Syrian immigrant to open a corner grocery store, just to get a business license?
@@atomicfly777 Yes on most of that, but Crime is way way down across the country over the last 30 years, despite the horror stories you see in certain news outlets.
This misses a huge factor and that is how entrepreneurs are taxed. In the UK, someone who creates a new product that changes the market and creates thousands of jobs has to give almost half their income in tax for the privilege. Relocate overseas and they keep most of what they earn. And Europe is not trying to reverse this trend, so we are seeing 1% to 2% GDP growth, which is mostly supported by immigration and not increases per capita where the USA and developing world are seeing double digits.
@@SelfProclaimedEmperor That's great, but of course the living situation is also different. Health Care, security and mobility are different between Europe and the US for example. Payed holidays aswell. But yeah, if you are young, healthy and privileged in the US you can accumulate a lot of wealth quickly. Most of us are not young, healthy and privileged however! ^^
@@bened22 The European cope in this comment section is unreal. You literally can't take criticism, yet you're so eager to criticize America. Adjusted for cost of living (purchasing power parity), the US has the highest median income in the world. In the world - and nothing Europeans can do, will change this simple fact.
@@dasfasdf-gc1yu Let me get that straight: An off-hand comment about one bad american business practice is not taking criticism well. But your answer to that comment is gracefully accepting criticism, right? ^^ Yes, I'm always coping. Ah god, I just wish I was born in the greatest country in the world, the one that is known for taking criticism well!
This. You have VW, second largest car producer in the world trading at 10% of value the comparably miniscule Tesla. Ppl just value american companies more due to no regulation and lack of worker rights. Or just because they are much louder.
Valuation is very mathematical, companies are usually valued based on the amount of future cashflow they can generate and it turns out that European businesses are worse at doing so, and so usually ends up having a lower valuation. You can look at comparisons on banks, energy companies etc. European companies struggle to earn even their WACC back. Edit: in Tesla Vs VW, Tesla is valued higher because more growth is expected, but growth expectations have been reduced, which is why Tesla's valuation has fallen. It is not as dumb as a company being louder. @@123batina
@@123batina Volkswagen produces 9.2 million cars annualy, Tesla produces 1.8 million. VW revenue: 322 billions, Tesla: 96 billions. Operating income: 20 billion vs 9 billion. Tesla is growing like crazy, leads the EV sector, has competetive prices AND big margins. VW EVs are overpriced shit compared to Tesla. EU plans to ban EVs so it makes sense to be bullish on Tesla.
@@SK-cz5wy Google it before you say it: "U.S.-based electric vehicle (EV) maker Tesla reported a total revenue of $ 21.3 billion in the first quarter (Q1) of the financial year (FY) 2024, a 9% year-over-year (YoY) decrease." Decrease is kinda... not growth. Specially not "crazy growth". You know who is growing like crazy? Cupra. Luxury brand of Seat, part of VW group. Google that as well ;) Anyways - I dont want to deal with kids and cultist anymore, so Im out of this discussion. Have fun guys.
I don't think it's a very honest comparison thought. Because market valuations in tech companies are often inflated. Are we really supposed to believe Facebook (Meta) is a valuable company. What value does Facebook offer in reality? While you might have have a manufacturing plant or something like ASML that actually add value to society, and they couldn't be recreated by just anyone, and yet their market cap is supposd to tell us they are comparatively worthless? Market valuations are driven by nothing but marketing, and businesses that sell to consumers tend to get more hype, while businesses that do B2b don't get any hype because the general retail investor doesn't know about them.
Imo European countries need to do stuff like invest in some semi conductor manufacturing because it creates vulnerability in the European economy if anything happens in Taiwan. And for a chip foundry close proximity to ASML would be great.
@@Blacknightgr1 He did say Europe xD Not the Eu. EU is just a political organization, Europe is a Continent. It is getting ridiculous how everyone these days can create news and people will just take it seriously xd
@@KomentariramTldr is among the teams that make the most factually accurate news. I know that because they sometimes cover my country, which is never covered properly by anyone on English RU-vid except Tldr. They clearly have high standards for research.
After having lived in both systems, and also in Switzerland it all really comes down to mentality. American children are taught at a young age to do/be anything they want as long as they work to achieve it whereas European society is more about making the safer option, where dreams and aspirations are limited and guided by the parents and society. It stifles the ability for people to be more entrepreneurial and risk taking with investments. The problem is cultural. To sum it in a few words "scared money don't make money".
<a href="#" class="seekto" data-time="225">3:45</a> Bogus point: None of those big American companies operates only in America. "There's also more regulation in Europe." Gee, ya think? Over regulation is the biggest problems businesses have. When you spend so much of your time trying to satisfy government regulators, you don't have enough time to mind your business.
Europe trying to prevent monopolies… by putting in so many regulations that make it impossible for newcomers to create companies, on top of all the other barriers EU startups already face compared to US startups? Is this an oxymoron? The problem in Europe is that it somehow managed to Out-California California… in the entire continent instead of just one state/province. The one thing California has going for it. At least it’s still got that entrepreneurial environment.
I love the people that complain about how horrible California is for business but also complain that all the tech giants are in California. It's amazing how people can literally hold opposing contradictory opinions in their head.
I don't know how people can't understand very basic factors. The US big software companies (seriously don't count ones in hardware) can make obscene amounts of money just due to inherently cheap business expenses and very very cheap capital available thanks to reserve currency. US is the only country which can be as much financially irresponsible as possible. And then just dump the inflation to the rest of the world. Similarly, since 2000s, it was much richer than other developed countries and migrants will obviously choose countries with higher per-capita. This means US has more than enough supply of poor workers to exploit from(well, atleast 3rd world migrants get big salaries relatively). That combined with English language meant everyone from Asia (especially Indians and Chinese) went to US to pursue a career in software field. It is not at all "cultural" nor is EU "too communist" or whatever other bulls**t people are typing here. If EU wants to survive it either needs to develop a local industry or allow Chinese competition to atleast have some leverage.
For the sake of a healthy economy, we need both big and small businesses. The problem is - they are all suffering right now from over-regulation, sky-high energy prices (hello, Green Deal) and barriers between local EU markets (different regulations, languages, etc.). What the EU needs is a more common market with less regulation - not the other way around, which is what we're getting now. We either fix that or become irrelevant at a global stage.
He forgot to mention that Europe is running a trade surplus, while the US is running a huge trade deficit. Which I think is kinda more relevant than the size of the businesses in the country?
<a href="#" class="seekto" data-time="200">3:20</a> The language barrier is BS Basically everyone working in Europe's big companies speaks English , we all learn it ... <a href="#" class="seekto" data-time="220">3:40</a> That is a bit more valid , but the EU common market has reduced that by a lot <a href="#" class="seekto" data-time="273">4:33</a> Again, thats BS , as all of us Europeans basically use American social media apps ... the concept of a social media app "specializing" in a specific country is ridiculous outside of China The question is , why is there no European social media app that captured the entire world , and basically all social media apps that have done so , are American ... the existence of multiple countries in Europe with different market preferences CANNOT be the answer if everyone in Europe uses basically the same American social media apps
I don't see that as a bad thing. Those American big tech companies have become so big that they can get away with widespread and blatant anti-consumer practices, mostly due to their monopolistic position. They wouldn't be able to do this so comfortably if there was more competition on the market.
They wouldn't be able to do it so comfortably if the government made even the slightest effort to protect consumers, but the same corporations that constantly rip off everyone they deal with because consumers have no choice but to deal with them, also spend billions lobbying the government to reduce regulation. European laws are a lot better at giving the people who live there basic human and consumer rights. Here's a quick one - my unlimited data, phone and text plan on my mobile phone is €10.99 a month in the EU. The same service (With constant robocalls - the last time I was in the US I bought a SIM card and within 15 minutes of it being activated I was already getting spam calls, which suggests the phone company are literally selling new numbers to the spammers as soon as it activates) in the US is more like $50 a month, because all the US phone operators (of which there are 3 or 4 in total) have realized it's much more profitable not to compete with each other at all and rip everyone off. Cell coverage in the US outside of population centers is pretty awful too.
This isnt a great video in my opinion. In particular, the emphasis on market cap over revenue, and the lack of discussion regarding the structural advantages that the us has that are some what fake. In particular, the strength of the dollar, american ability to borrow very cheaply, and overgrown financial sectors. In my opinion, this is a case of american strength (though it is somewhat potemkin), than european weakness, though europe does have structural issues, but i feel that wasnt properly discussed.
The US maximises growth at any possible extent. One example is immigration. The US has good future prospects which is why people invest, europe is full of declining population former communist nations that don’t speak the same language and don’t want to hurt their culture. Not a good place for growth. Investors don’t care about culture or the crime rate. They only care about if a number increases. The US doesn’t care about national identity, culture changing, demographic shift, etc. meaning that the US will grow. The more globalist you are the better.
That's a pretty accurate description. I'll add social democracy and left leaning politics to the root of European anti-business and anti-risk attitude so yeah... When Americans do say that we're socialist in Europe with paid leave and paid healthcare (the latter being quite bad)... they do make a good point.
Europe prioritizes consumers over producers, which is great in the short term horrendous in the long term since you basically get out done by more competitive companies. Europe is now experiencing the long term effects of basically living in rainbow land.
@@Dave05J How many paid days holiday would you get at Nestle in Switz? How many days maternity (or even paternity) leave? How many would you get at Amazon US?
I don't think the market barrier argument is a good reason European companies can't scale. All of these companies are global players. They all have to localize their products for 180 countries. It might give American, Japanese, and Chinese companies an edge in growing from small to large. But once large, it doesn't do much to help with growing to behemoth. I think it's 3 things: Compounding first mover advantages, worker compensation methods, and the more of a startup culture. America was the first country with a massive financial market. Britain, Germany, and Italy have older markets, but they operated on smaller scales. This means American companies have access to more financial capital to grow quickly. Foreign companies have incentives to work with the American market to access some of that capital, but American companies don't have nearly as much of an incentive to work in other countries until they've saturated the American market. This cements the American financial system as the most powerful in the world giving American business a huge boost. America started the computer tech revolution (with a lot of help from Britain). All of our largest companies today are in computer tech or financial services. For a long time, the best talent in computer tech from all over the world was drawn to Texas, NY, and California growing American business rather than their home country.
American workers have the most rights. In every state, you can walk up to your boss, say FUCK You, and walk out. No Issues. If your boss goes "bt ill double your pay!" you can stay and or still walk. You cant do that in europe....
These American tech workers make more money than European leaders. Lolololololololol. America has a problem with poor people not people who work at Google or Facebook.
Europe needs to create better unity; to push a narrative of what it means to be European and not simply just French/German/etc… A new/ancient language should be used as an official vernacular. Latin for example.
I don't agree that European companies suck. They are different - in a positive way, I think. Just look at Boeing VS. Airbus. Here you can see all differences within one company. One provides work in different countries & is engineering-driven, the other had been streamlined to please shareholders by sacrificing core competencies.... A complete different example can be seen in fire extinguishers. In the us, 2 producers have a 85% market share at industrial customers. The extinguishers look the same as 20 years back, maximum heavy and nearly all use corrosive powder as extinguishing agent. If I just count producers with a >10% market share, you will find 4 Companies (Gloria, Minimax, Total/Neuruppin, Jockel) alone in Germany, Eurofeu & Desautel in France. This leads to. more competition (Extinguishers are less than half the US price) and more innovation (foam with higher market share than powder, watermist & gel extinguishers as example). I definitely prefer the European appoach....
You can talk about the Boeing VS Airbus comparison, which is fair, although Boeing used to be well-managed until the acquisition of McDonell Douglas. But then there's Boom Supersonic. That's a commercial aviation STARTUP. That's the difference we're talking about. SpaceX and Rocket Lab. Many more. You don't have this competitive advantage with easy access to venture capital, anywhere else. This is the other end of the argument. The US doesn't require financial stability to get your foot in the door-you can figure that part out later. If it works, it works. If it doesn't, it doesn't, but US venture capital funds will provide you the opportunity to make something great.
You are using that top business video platform on an operating system made by another top business. 8/10 most visited websites are American. I'd say, it's pretty important.
Why? There are a few reasons. One, europe actually regulates or breaks up monopolies. Two, Europe actually has and enforces consumer protections laws. Three, there is a bubble brewing (specifically about Tesla)
@@elissm5349 Is tech really the only game in town? Are you prepared, to have your car, which you paid in full for stop driving, because you didn't pay a subscription fee? And then there is one more thing. How much of market capitalization of these companies is real? Cause most of value of Tesla is actually promisses made by Elon but never fulfilled...
Not finished the vid yet, but there are sooo many issues with the EU that makes it business unfriendly also a lot of people in charge of making laws and implementation tend to deliver half work for example the CBAM (carbon pricing for importing below 150 euro) is riddled with uncompletness. and businesses just have to figure it out until 2024 july for their reporting it is absolutly baffling. and the people in charge of explaning it to the businesses 'see that you are up to date because fines will come and there isn't a lot of time left' and even the platform they designed has flaws.... and this story goes on and on and on. taxes upon taxes upon taxes, they never work deligitanly nor to completion, the only swift laws are those that fund the pension funds of the Eurocrats. EU is a failed project funded by the big EU companies in the beginning
We also don't have a unified postal system, so buying and selling things is more complicated ...and it takes longer for things to arrive, leading to local businesses having an edge.
Which would actually be perfectly fine, except small businesses themselves are crippled even more than larger ones by the volume of red tape facing them.
This is overstated. I personally couldn't care less about bragging rights of European businesses who are just as bad when it comes to avoiding paying their fair share of taxes as their American counterparts, but most large US companies mentioned are monopolistic, rent seeking, defacto unregulated utilities, who's business model relies on putting Main-Street out of business and arbitraging workers rights. Of all the companies mentioned it is ASML that is the best and that is European. They are the closest to the "flying cars" in "we wanted flying cars, instead we got 140 characters". Am actually useful and productive company as opposed to an endless pointless content machine that on balance probably does more harm than good (no offense to this channel or YT which I avidly consume). But granted NVIDIA is also another actually useful company. Besides judging companies based on valuation is a misnomer, most are grossly overvalued by their own admission and of course the companies listed on the exchanges with the deepest capital markets are more likely to have higher valuations. We should judge success by what they are actually positively contributing in the real world. Thanks for coming to my TedTalk
Yeah and top European cimpanies are Nestle and LVMH. One is an awful company notorious for its activities in Africa and the other a pretty useless handbag company that entertains the elite and the oligarchs.
Nobody cares about value to society if we cared 80% of jobs wouldn’t exist . An American company can evade taxes the same way an European companies can although with different methods,a tech company can hire remote workers nowadays ect Nowadays companies are more global than ever, one of the biggest supermarket chains in my country is incorporated in the Netherlands but it was started here, most tech companies operating in Eu are in Ireland. So the question would be how much the a eu/European earns in taxes from a foreigner company versus a European one, would be more,the same or less? Because you can’t taxe stock value until you sell it.
@@santostv. Goodness me where do I start with this one. 1. I didn't mention the words "value to society" you did. I was talking about productive value, but now you mention it they should be a value add to society. 2. As someone who actually has worked in the tech sector it is not so easy to just hire remotely, that's not how it works. Highly dependent on the position. Most roles cannot simply be done remotely. 3. "You can't tax value until you sell it". Lols, many countries have taxes on stocks held. a 1-2% tax on stocks held regardless of whether they are sold is not uncommon in a number of countries - the Nordics being the most obvious example. Try again.
@@paulbo9033 ok, productive value but we run into the same issue or no? What it means productive value? 2.I confess I don’t know a lot about hiring for tech but was more about the fact that today it easier to do it and there’s some people that boost about doing it, earning usa salaries while continuing living in Europe or for a small minority moving from the usa to Europe 3. I didn’t know about that, in my country I think is only when selling them but still why the Nordic have good % of international successful companies although in the “tech” most were sold to foreigner companies?
The whole regulation point doesn't work. It's already too late. You can't close the pandora box. Sure, you can make them pay more tax etc. and they should. But you won't get those jobs. Maybe some company decides to move to a country with lower salaries. All things considered, this is not a win. You need European innovation, but this won't happen, if no one invests in it.
There's also taxes and regulatory intrusiveness. No one wants to start a company in Germany, end up paying 50% income tax and be forced share power with a union to boot.
I'm Japanese, but I hardly see European products in my daily life except for luxury bags, watches, and cars. I know that SAP systems and European medicines prescribed in hospitals are used in Japan. On the other hand, I use American products at least once every hour. I use Apple smartphones, Google search, map apps, and emails, and I can't do anything without Microsoft products when I work at the office. I often go to Starbucks or McDonald's when I take a break, and I buy Coca-Cola soft drinks almost every day. Once a month, I shop at Costco, which is about 20 minutes away by car. I live in a big city in a rural area of Japan, and the two Costcos in the city are always crowded. There are rumors that IKEA will open, but it's a shame that it hasn't been built yet. By the way, KitKat and instant coffee are made by Nestle, a European company. I think it's probably the same in every Asian country.
ASML machines are responsible for over 90% of manufactured chips. Here you go, all of that you mentioned rests on the shoulders of this one little European company, since all of that, from your phone to the Apple servers uses chips made in an ASML machine. Also Japan was a black hole for American loans and subsidies for decades to come, it's only natural you'd be more influenced towards them, that's the point.
Of the top 15 semiconductor manufacturing equipment companies, half are Japanese companies such as Tokyo Electron. On the other hand, Europe only has two companies, ASLM and ASM, both of which are Dutch companies. Putting that aside, I think that unlike American companies, European companies are becoming less prominent outside of Europe.
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst
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Your argument that you need to customize for each country is flawed. Your example was a social media platform but the the American ones seem to have spread just fine. Europe is very risk adverse when it comes to investing for the future. Governments in particular are terrified of funding anything that isn't a 100% guaranteed win.
Fellow eu/acc enjoyer. It’s not taxes but friction. In Europe there is friction from setting up and investing in business. US has the Delaware Inc and standardised contracts. This means there is infrastructure to invest easily. In Europe (depending on the country) there can be so many steps that take time and money (e.g. notary for steps where it doesn’t seem useful). India, China are already thinking infrastructure as a platform first: platform for eKYC, banking and more! We can make that change in Europe too! It might take time, but it can accelerate Europe!
Ah, another thing to consider in your argument: a big chunk of the US might in tech comes from the US military & intelligence massive investment in the sector. Europe’s mini national militaries have absolutely no chance to compete. Europe is basically held back by its own internal division, because every freakin’ village on the continent thinks they are the best and they should be their own country. 😂
Bro, you couldn't have said it better! I guess you should be from oustide of Europe, since an outside perspective is sometimes necessary to have a broader vision.
That was the case 30 years ago and more. Where the last manifestation of this problem was the Yugoslav war, although the main driving force behind it was serbs being serbs. And our military is pretty great. Combined, we've easily got the 2nd biggest army in the world, combined with invading potential, since France still maintains army bases across the world.
Is it really a problem, if the European companies had targeted USA customers first which are more homogenous? Only because a company is European, it doesn't mean they need to target all European countries. Especially if it's technology.
