EU invested a billion EUR into creating a Google alternative some years ago. Naturally, nothing was ever heard from the project again. Such things happen on a regular basis. Money shortage is not the problem.

There are also many big companies, for example VW could have bought some AI startups or Uber competitors.

> It almost like the US has so much money, it can outspend the EU at every step of the way.

Especially for startups: either buy the whole company or hire the key employees away.

Pretty much.