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EUs trade with each other represents only 16% of all trade in the world and this number is declining. The EU has no fintech/startups center beside the UK and th

EUs trade with each other represents only 16% of all trade in the world and this number is declining. The EU has no fintech/startups center beside the UK and thats not going to change (Berlin doesn't have the money) EU is killing, not fostering startups. If anything startups thrive where there is complexity because it means there are problems to solve. The EU is politically trying to solve a lot of problems but they have nothing but technocratic reasons to do so. I.e. they aren’t actually very good at allocating resources to the right problems for europeans because they have no feedback mechanism allowing for a better insight into what are the EU citizens problems. Instead they are solving problems with the very bureacracy they helped create themselves to begin with. If anything the EU should stop trying to solve politically what can be solved through technology and via startups. The UK's fintech sector is going to be just fine and most probably boosted because it's not the problems of the EU that makes UK's fintech successful it's the world. Technology does and can make up for any legislative complexity and it's going to foster a whole new slew of startups. So the UK is going to benefit greatly for this and can now make trade deals that benefit the UK while continuing to do fintech without any problems what so ever. EU isn't some economic powerhouse which one should only be so lucky to be part of. It's primarily catered towards supporting old industries and trade barriers. More countries should reverse back to the common market. The fact is no one knows whats going to happen. But if history is any indication the UK is going to come out stronger not weaker from this.

raverbashing 10y ago
> The EU has no fintech/startups center beside the UK and thats not going to change (Berlin doesn't have the money) Other cities like Dublin are getting investment. And yes, most were in the UK until now. They might go to Amsterdam and Frankfurt as well > EU is killing, not fostering startups. This is laughable. Number26? Spotify? Delivery Hero? In fact, they are ahead of Canada in the startup world. The business friendly, less regulation Canada.
- ThomPete 10y ago
  Using Dublin as an example is like comparing Boston with SF. You just don't have the talent or the infrastructure or alumni there and it's not just something you build up like that. If it's laughable then why does the EU have the lowest number of unicorns of any super region in the world? Why is it's growth declining? Why is it's unemployment increasing? The UK is the country with most unicorns, most fintech startups, most important financial market in all of the EU. Thats not just something they got because of the EU they got it despite the EU as they had it before too. And if the EU is so important for trade and export why is it that a country like Denmark export to the US is now rivaling export to Germany and is said to go move beyond that. EU is loosing it's economic power not gaining it. There is not a single thread of evidence that the EU is making it easier to conduct business. If anything though it's great for big corporations because they can lobby any challenger out of the market because of the legislative burdens. I am for the common market but the EU is killing the very advantage of having individual countries with different cultures by trying to harmonize their culture. Diversity is an asset not a liability especially for startups.
  - notahacker 10y ago
    The rest of the EU has few fintech startups in part because financial passporting across the EU meant that fintech startup could serve customers in the whole of the EU from an office in London. That's likely to change... The idea that this is less of an asset to London startups than increased diversity of culture and regulation between countries is, to put it politely, utter nonsense.
    - ThomPete 10y ago
      What is likely to change? The UK was the most important financial market before the EU. No nonsense about that at all. Switzerland is doing just fine as far as I can see and they are not members of the EU. But I understand that its politically charged and people has a hard time tempering their anger which yours and the previous post are nice examples of.
      - notahacker 10y ago
pbhjpbhj 10y ago
>they aren’t actually very good at allocating resources to the right problems for europeans because they have no feedback mechanism // Do you have something in mind here, some examples. One of the big things at the moment is how well EU money was targeted to poor areas in need of social support. All these poor areas seem to have voted to remove vital EU subsidies; there no way the Tories are going to reinstate any of it (nor spend any saved capitation on the NHS, IMO, not without first privatising it). Doesn't a collapse pound make it much harder for businesses that import or use overseas factories at all. It may be a small effect but if it's as easy to startup something in the EU, then surely even a little advantage is good?
- ThomPete 10y ago
  Giving money to poor areas isn't actually proof of anything besides money is taken from some other regions and given to others. Who gets what in the EU is purely based on the various countries and organizations ability to make the most out of it. Denmark had an area which spend billions subsidizing various efforts with EU money without any success. So while that might be great for the local community getting money from the EU isn't a sign of anything besides the EU gives out money based on your ability to get money of out the EU. It's not based on some system of fairness or priority. The pound is not going to collapse just as little as the Danish krone did when we decided not to be part of the Euro. Back then the amount of scaremongering about what would happen to Danish economy was insane, yet Denmark is one of the countries who fared best after 2008 and still have tripple a rating. The EUs funds are largely there for the taking. If you can make a case based on some vague notions you can get money from the EU. That can easily be solved by the individual countries instead.
- mike_hearn 10y ago
  Those subsidies are hardly vital, they are mostly flushed down the toilet on wastage or at best spent on things locals don't care about, like opera houses instead of doctors. Subsidies in Cornwall have received a lot of focus because Cornwall voted out. But why should the local people care? http://www.bbc.com/news/uk-england-cornwall-33360841 http://www.bbc.com/news/uk-england-cornwall-33360841 http://www.telegraph.co.uk/news/worldnews/europe/eu/8829410/Taxpayers-millions-lost-by-EU-funded-regional-schemes.html http://www.telegraph.co.uk/news/worldnews/europe/eu/8829410/...

raverbashing 10y ago

> The EU has no fintech/startups center beside the UK and thats not going to change (Berlin doesn't have the money) Other cities like Dublin are getting investment. And yes, most were in the UK until now. They might go to Amsterdam and Frankfurt as well > EU is killing, not fostering startups. This is laughable. Number26? Spotify? Delivery Hero? In fact, they are ahead of Canada in the startup world. The business friendly, less regulation Canada.

ThomPete 10y ago
Using Dublin as an example is like comparing Boston with SF. You just don't have the talent or the infrastructure or alumni there and it's not just something you build up like that. If it's laughable then why does the EU have the lowest number of unicorns of any super region in the world? Why is it's growth declining? Why is it's unemployment increasing? The UK is the country with most unicorns, most fintech startups, most important financial market in all of the EU. Thats not just something they got because of the EU they got it despite the EU as they had it before too. And if the EU is so important for trade and export why is it that a country like Denmark export to the US is now rivaling export to Germany and is said to go move beyond that. EU is loosing it's economic power not gaining it. There is not a single thread of evidence that the EU is making it easier to conduct business. If anything though it's great for big corporations because they can lobby any challenger out of the market because of the legislative burdens. I am for the common market but the EU is killing the very advantage of having individual countries with different cultures by trying to harmonize their culture. Diversity is an asset not a liability especially for startups.
- notahacker 10y ago
  The rest of the EU has few fintech startups in part because financial passporting across the EU meant that fintech startup could serve customers in the whole of the EU from an office in London. That's likely to change... The idea that this is less of an asset to London startups than increased diversity of culture and regulation between countries is, to put it politely, utter nonsense.
  - ThomPete 10y ago
    What is likely to change? The UK was the most important financial market before the EU. No nonsense about that at all. Switzerland is doing just fine as far as I can see and they are not members of the EU. But I understand that its politically charged and people has a hard time tempering their anger which yours and the previous post are nice examples of.
    - notahacker 10y ago

pbhjpbhj 10y ago

>they aren’t actually very good at allocating resources to the right problems for europeans because they have no feedback mechanism // Do you have something in mind here, some examples. One of the big things at the moment is how well EU money was targeted to poor areas in need of social support. All these poor areas seem to have voted to remove vital EU subsidies; there no way the Tories are going to reinstate any of it (nor spend any saved capitation on the NHS, IMO, not without first privatising it). Doesn't a collapse pound make it much harder for businesses that import or use overseas factories at all. It may be a small effect but if it's as easy to startup something in the EU, then surely even a little advantage is good?

ThomPete 10y ago
Giving money to poor areas isn't actually proof of anything besides money is taken from some other regions and given to others. Who gets what in the EU is purely based on the various countries and organizations ability to make the most out of it. Denmark had an area which spend billions subsidizing various efforts with EU money without any success. So while that might be great for the local community getting money from the EU isn't a sign of anything besides the EU gives out money based on your ability to get money of out the EU. It's not based on some system of fairness or priority. The pound is not going to collapse just as little as the Danish krone did when we decided not to be part of the Euro. Back then the amount of scaremongering about what would happen to Danish economy was insane, yet Denmark is one of the countries who fared best after 2008 and still have tripple a rating. The EUs funds are largely there for the taking. If you can make a case based on some vague notions you can get money from the EU. That can easily be solved by the individual countries instead.
mike_hearn 10y ago
Those subsidies are hardly vital, they are mostly flushed down the toilet on wastage or at best spent on things locals don't care about, like opera houses instead of doctors. Subsidies in Cornwall have received a lot of focus because Cornwall voted out. But why should the local people care? http://www.bbc.com/news/uk-england-cornwall-33360841 http://www.bbc.com/news/uk-england-cornwall-33360841 http://www.telegraph.co.uk/news/worldnews/europe/eu/8829410/Taxpayers-millions-lost-by-EU-funded-regional-schemes.html http://www.telegraph.co.uk/news/worldnews/europe/eu/8829410/...