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The most concerning part about this is that most Europeans don't realize how stagnant Europe has now become
Europeans are literally blue-pilled and are mostly concerned with climate change, immigration and the Ukraine war
Nobody in Europe is thinking why increasingly everything they use is made in China running on American software
The knee jerk reaction is to proudly pass regulation against American tech
The chad reaction would be to reduce regulation so that European entrepreneurs would actually stay in Europe to build European startups increasing Europe's GDP and making Europeans richer!
I am European and I have regular conversations about this with people here, it's just not on top of mind AT ALL! While it should be because Europe's GDP is stagnant and the real innovation now happens in US and China and elsewhere, not in Europe
People in Europe do love to complain about rising cost of living and the increasing unaffordability of living, but they don't realize why. They point at foreigners/immigrants as the problem, which can't be the whole story
Other Europeans I talk to get visibly upset if I ask them about stagnant GDP numbers: "why should everything be about money?" they say in a thick German accent
The whole story is that Europe has made it very difficult for people to start a business, raise capital, innovate and get the reward for taking that risk, so why would anybody?
And for the Europeans that do, it's way easier to open a US Delaware company, raise capital in US, sell your stock or IPO in the US, because why even do that in EU, where it's too hard? The proof is in the pudding, if it was so easy in EU then why is startup funding in US $270B AUM with 330 million people vs $44B AUM with 746 million people? That's almost 14x bigger startup funding market per capita
Why doesn't EU have ANY trillion dollar companies? While US has six? Why isn't there any European company in the top 10 of largest companies? While 80% is American?
Why is Stripe, a company founded by two Irish brothers, an American company and not a European one? It could have been
Very few Europeans will agree with this post because they can't see it, if they would've seen it, we wouldn't be here in the first place!
What's the role left for Europe in the future?
Signed,
- A techno-optimist European who'd love to see Europe become wealthy again
Super excited to share a preprint! At @Caltech, we build the first closed-loop brain-machine (#BMI) interface that is able to decode internal speech 💭. Check it out here: https://t.co/8bNDtGA6w2
Incredibly excited to announce Glovo joining forces with Delivery Hero. Worked with the founder team since our investment Oct’2018. They have built the coolest app and clear leadership in almost all their markets. (1/4) ❤️💛
Shocking to see Europe putting sticks in the wheels of local tech startups:
- UK's CMA blocked Deliveroo financing for a year
- Spain implement laws targeting Glovo
- Finnish Avi going after Wolt
- German rider union strike Gorillas
Vitalik Buterin sells $SHIB and $AKITA tokens and donates $1 billion to the India Covid Crypto Fund.
The sickest legend of them all.
Absolutely gorgeous.