I'd argue the total marketing cap of top-500 might be a better measure. Surely it has gone down but maybe by less
Also China's growth was the exceptional thing here
(but yeah European management of those classic big companies fumbled a lot)
Other countries that are still on the first phase and do prioritize beating everyone else, to the detriment of their health and personal life, will start overtaking you... with time, they too will start giving some importance to a healthy life and will start falling behind (China may already have reached that point, as we now see some other Asian countries taking some pieces of the cake - helped no doubt by the West's antagony to China and its authoritarian government)... and so the cycle continues...
The countries that reach the top level in qualify of life, like USA, Australia and most of Europe, tend to still stay quite wealthy, it seems... as they still have a highly educated population capable of creating value for the country and their fellow citizens... so this story seems to be going well so far.
I tend to blame myopic capitalistic class, more interested in punishing trade unions, looking for '800s production organization before anything else.
Even in the case of Philips it spun off NXP (which is not going great neither to be fair), ASML, Signify (lightning business etc)
Siemens also dug their own hole in severe mismanagement ("old people" running the show) and I think there's not much more left there
Out of curiosity, why do you think that?
(though Qualcomm has aprox 3x the quarterly revenue)
Why are they not selling anymore?
Europe's biggest tech companies leaders in the field are Airbus, SAP and ASML.
And to be honest, Google is more ad-tech then anything else, Netflix is entertainment. Amazon is, depending on how you measure it, 50% retail / logistics and 50% AWS. Which leaves MS and Apple as true tech companies, while Facebook is social media.
Retail, as in eCommerce, was ground breaking tech when Amazon started. Today, comparable tech is available from vendors like Shopify (web shops) and WiseTech (logistics and fulfillment). Social media was ground breaking when Facebook and MySpace came along, now it is more about selling ads then anything else. Streaming was ground breaking when YouTube and Netflix came around, now there are countless streaming services. And some of the older ones, looking at you Amazon, resembles traditional TV a lot. After all they sell ads now between streaming (FreeVee or what's it called) and broadcast new episodes on specific days, looking at you Amazon and Disney.
It's unreasonable to expect a region with 1/16 of the world population to have 4/10 of the largest companies in the long term.
Also, is "company size" really that good a measure of economic success? Seems like it could have to do with the local conditions encouraging smaller economic entities.
63% declines are something you can't repeat too many times without creating the kind of situation historians give names to. Two more such periods, and Europe only has 2 of the top 100 companies."
https://twitter.com/paulg/status/1400777576965185539