> Snark aside, this chart makes total sense
> to me now: https://i.redd.it/fxks3skmvt4e1.png
E.g. Booking.com isn't there because it's now ... an American company on paper, but it was started in Europe, has most of its operations there, and (last I checked) Europe was its most important market.
But because the US stock market and US capital dominates globally, companies like that tend to be sold to a US company, and become American on paper. But that financial arrangement doesn't really reflect the overall state of European innovation.
Similarly, there's countless European startups that would have probably had a NASDAQ listing if they'd been US-based, but were instead sold to some of the larger European incumbents in their sector.
The overall amount of innovation delivered to consumers etc. might be the same, so that's more of an artifact of how capital flows in the US v.s. the EU generally.
Also, the chart does include companies that are European headquartered (like Spotify) unless I’m mistaken.
Even if it didn’t though, don’t you think it’s a problem that a group of 600 million people cant form an attractive enough capital market such that its companies wouldn’t need to go abroad to a group of 300 million people to go public?
This is the weak complacency I’m talking about, as someone living in Europe it’s maddening.
Out of those you could only make an argument for Tesla, because at least they were pushing the envelope for a short while in the past (though more from a business standpoint), rather than merely operating within the possibilities of existing technologies others created.
Generally a high-tech company will have significant research (not development) spending, which T-Mobile and Uber don't.
But that chart is awful either way.
Are you trying to just incite reactions? This is a very unfair take. German salaries are among the highest in Europe, sixth highest according to Wikipedia, and for many Europeans and non-Europeans it still is a land of opportunity. Certainly a better place to be a professional than almost "any other country", as you put it.
https://en.wikipedia.org/wiki/List_of_European_countries_by_...
- Form a German holding company to manage the business
- Deal with any conflicting taxation/regulatory issues when operating a german holding company from your new country of residence (in some countries this is not trivial)
- Visit Germany twice per year and potentially more to deal with German authorities that require things be done on paper and in person (hope you didn't move too far away and hopefully you don't have small children!)
- Hire an abnormally expensive tax advisor, hope he is good
- Sell a large portion of the company to fund a giant exit tax bill (!!!!). For many companies this is likely a 1-2 year minimum process, and that's IF they can find a buyer. Not as many PE funds in Europe. Good luck on valuation when the buyer knows you're in this situation.
- Hope the government gives you a reasonable valuation on your company, and hope their decision is similar to that of your buyer (and the timelines for both line up), which I'm sure is a super easy and not at all complicated process.
Fun! I can't possibly see what people are complaining about.
One of the weirdest things about Europe is the irrational nationalism that arises when you tie a language, ethnic-identity, government and country into one thing. Anecdotal, but it feels like this leads to more of an inability to reflect on and criticize things. Americans have far thicker skin when it comes to criticizing themselves.
Can you not see how this incentivizes entrepreneurs to leave or start their companies outside Germany (not sure if you're aware the EU exists). Is this really how you think things should work in a non-authoritarian regime with democratic freedom of movement?
Snark aside, this chart makes total sense to me now: https://i.redd.it/fxks3skmvt4e1.png