Good point. I think that the EU has an opportunity to really grow here by focusing on intellectual property enforcement, patents, copyright, and generally more strict enforcement on making sure returns for ideas go to the first person to think of them. The EU already has a pretty strong governance lead and should double down on where its strengths lie.
Giving money to random tech schmoocks and seeing the valuation of their thing gettign to 1B, then lobbying for laws to make it monopoly. This kind of thing.
That and selling icecream flavor preferences of 1B people to guess who is more susceptible to brainwashing, so you friends can get reelected.
All very nice technology, including the one which destroys entire solar system to make a sacrifice big enough to summon Cthulhu.
I think 'tech' as a category doesnt make much sense any more. It's like saying 'road-based business'. Most companies are 'tech' companies.
Ignoring the technical element, what are US megacorps that account for all the GDP growth of the last while?
Mostly ad market monopolies, then mostly massive-scale IP theft, etc.
I think the EU is 'behind' the US only in it's inability to be well-positioned to build massive rent-seeking megacorps. I dont see where-else this gap is supposed to be.
What, on 'tech' should the EU be doing differently? Just allowing megacorps to add 30% to every transaction?
If this US tech bubble bursts, it's not clear that the EU won't be better positioned to pick up the pieces.