It has struck me that the real key to American tech dominance is NASDAQ and the American stock market in general. It values tech and especially young companies

It has struck me that the real key to American tech dominance is NASDAQ and the American stock market in general. It values tech and especially young companies a lot higher. In biotech, an IPO on NASDAQ will be valued at 2-3x one on Euronext. Frankfurt is even worse, which is why even German biotech firms don't IPO there. The value that the American stock market sees in tech in turn drives investment in startups that can expect a more lucrative exit. Ever wonder why so many European tech companies are bought by American ones? It's because any young European tech company will be valued higher as part of an American one listed on NASDAQ than it will be when listed on its national exchange, even with the conglomerate discount. So much in the world depends on funding.