One exists and is wildly useful. The other is self indulgent bullshit to distract from the fact that Tesla is a terrible company that would be bankrupt without the circus act.
Ok I'm sorry but this is really silly. A regulation was put in place which then required the minor innovation of finding a convenient design for attached bottle caps, some engineer probably did indeed get paid for that and the best designs got patented, and production lines got slightly altered. But this is ultimately a miniscule change.
ASML is a European company which is the sole manufacturer of EUV lithography machines in the entire world, which are essential to the production of the most advanced semiconductors. Zeiss is a company making some of the most precise optics in the world for industrial measurements, medical devices, cameras and more. Everything from laser eye surgery to the aforementioned lithography uses Zeiss optics. Ericsson and Nokia are the two top 5G network providers (with all major competitors from Asia, most notably Huawei). There's also Revolut for financial technology if that interests you, a good number of defence companies from Thales to Rheinmetall and of course Aerospace ones as well. Europe is technically behind the US in space rockets now, but Ariane rockets are still widely used and for good reason, and at least until recently everyone including America was using Soviet Soyuz rockets to get people to space. The US has only regained domestic capability to launch people into space in 2020, with the Falcon 9.
I'm certainly concerned with where Europe is headed especially so long as nation-state bickering predominates European politics, but the idea that Europe would he predicting nothing top of the line is an absolutely ridiculous assertion.
Well if i look at china and the US the first thing that comes to my mind is never “regulation central with near zero innovation”. I’m quite sure there’s more to a country or a bloc of countries than simply taxing more and regulating more - although this news may have not yet reached europe.
Honestly I don't put mucu stock in political and media narratives like this because what "comes to mind" is just driven by what engagement bait articles say and what whoever screams the loudest and repeats their claims the most af nauseam say to reach the most ears. There's a billion other bullshit claims in politics, what gives this one special truth value? The fact that our perception of reality is even affected by these narratives is just sad.
Ok then what top world leading companies were founded in europe in the last 40 years and actually chose to stay there? Let’s say 100 billion market cap or greater.
Surely with such a massive continent with a ton of GDP there should be plenty, of course we don’t buy into fake political sentiment.
Europe is more a land of established companies. I would say this is a bad thing to an extent, but it's not all inherently bad. After all if established companies are dominant in their fields and capable of innovating then it's kind of am obvious fact that there's going to be less new companies in these fields. I mean the same goes for Google, yes it's newer, but try to start another Google or a Google rival, you won't have much luck. If you even slightly succeed in anything tech related like that, Google or Meta or Microsoft will give you an offer you can't refuse, buy your company for the IP and then dismantle it to avoid competition. Without heavy government intervention and protecrionism (such as in China) you will not see alternatives pop up and succeed in general.
That being said, I do think there's one obvious way Europe is overregulated. The EU has 27 states with considerably more different legislation and legal traditions than US states, which makes regulatory compliance a lot more difficult, especially when you get legislation pushed through such as recently where sellers must have a kind of registration in each country separately. This very much hurts small companies looking to expand, as do different languages to some extent, and occasionally political pressure which seeks to maintain national control over particular companies and opposes mergers. The sovereign state system is immensely expensive for Europe in many ways.
Stripe is over 100b and they remain private. Many could’ve bought them along the way. AI has many players worth a ton of money now (openai anthropic etc) which Europe is again entirely asleep at the wheel. Tesla. SpaceX. Even stuff like Waymo. Doesn’t europe have many car companies and they’re behind the curve again in autonomous driving tech AND EV?
We can cope and say tech is full of companies too big to compete against (and that is a cope don’t get it twisted) but it’s not like we have a shortage of massive new companies in the past 20 years alone that aren’t google and apple and amazon…
Sure, but even when companies move to the US it's not really due to "regulation" but because the US is a big coherent market. Sure the EU market technically has more customers, but it's a lot more bureaucratic to expand your business from one EU country to another or to localised it for different EU markets. In the US this is much simpler, and when something is big in the US and has already scaled up its much easier to come back and steamroll the European market.
That's a problem of course, but it's weird to say it's due to Brussels or EU regulation, because a lot of that is de facto deregulation. When you say hey, this is the one rule you have to follow, rather than having to research and comply with various national regulations, that is a lot simpler. The current commission has also promised the possibility of registering a company directly at the EU level to bypass even more national rules.
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u/True_Protection6842 8h ago
One exists and is wildly useful. The other is self indulgent bullshit to distract from the fact that Tesla is a terrible company that would be bankrupt without the circus act.