Then why are those US tech companies so successful in the EU with no viable local competitors, if nobody wants them?
US tech has too much money they burn it on shit. So any potential competitor is bought, you see some UK AI company pops up then Google buys it and 1 year later you read how Google made huge progress in AI. IMO EU needs to first fix the illegal US companies tax tricks, also fix the Apple software tax or apply a similar tax on closed platforms, "the closed platform tax" , this would mean less money for US SV devs to waste on shit ty stuff and more money for EU devs to try do something better.
Why ? Because the US has a lot more money, which translates to more money for investors to dominate the economic landscape.
Why does the US have more money ? Well, if I want to buy an ice cream from the US for a dollar , I first need to sell something to an American for that dollar. US banks can just mint that dollar from thin air
I don't get this argument as the reverse is also true. If the US wants to buy French cheese and wine, it needs Euros to do that and the ECB can just print Euros out of thin air.
(UK here; not quite Europe any more; not my fault or choice)
Because the USA is a large protectionist market that doesn't like EU companies doing business there?
Because USA outspends EU to become dominant?
Because even with the EU wide laws, it's still more expensive to follow every local law compared to USA vs USA states?
Could you explain this one a little more?
As Europeans we should have known better: all nations rise and fall.
Plus, for the last 20+ years Linus has been working from the US while also gaining US citizenship. Case in point for US tech dominance, talent bread in Europe ends up in the US.
But, sure, the US is acquiring European bread talent too: Sourdough, baguette, ciabatta...
If you wish to negate the facts and call me names in return, then its your issue.
What if we don't want FAANGs in Europe? What if it's harder for FAANGs to develop in Europe because they can't be as aggressive and careless as american corps are?
Personally I don't want Europe to allow huge monopolistic corps to take over our economy.
Why would we want Google, the search engine that provides ads and spies on you instead of providing good results?
Why would we want Facebook/Meta, the ridicolously troubled corporation hated by pretty much everyone at this point?
Why would we want Amazon, famous for exploiting it's workforce, using old wild west methods against unions, exploiting its own sellers by copying their products and selling them for less?
Why would we want Microsoft and Apple and their cartel like attitudes, when we could have a different paradigm of software/hardware that goes to benefit everyone, instead of existing only as a competitive advantage to take over the market?
All of this companies will do anything in their power (lecit or not) to increase their market share and avoid paying taxes.
You can keep your silicon valleys and your oligocratic economy, thank you.