Re:EU shoots for €10B ‘industrial cloud’ to rival US
by tachyonbeam on Sunday October 18, 2020 @09:08AM
(#24817609)
There must be ways to specify that the companies cannot be subsidiaries, and that creating spinoffs for the purpose of collecting money will result in massive fines (eg. 100x what was collected). From what you're saying, the problem is not the fundamental idea of having the government fund tech companies, its political corruption inevitably preventing a sound execution of said idea.
They always have a way around and have enough influence to make sure there is anway around it.
EU investments like these always go to the same pockets. It is a broken system but it makes the insiders lots of money.
Lots of companies exist for the sole reason to get EU money and have absolutely zero interest in making any real products.