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As much as I'd be impressed if Europe managed to pull a China and replace the unicorns from SV with homegrown (and tax-paying) alternatives, I doubt that's ever
by m12k 9y ago
As much as I'd be impressed if Europe managed to pull a China and replace the unicorns from SV with homegrown (and tax-paying) alternatives, I doubt that's ever going to happen. Google and FB have such ridiculously high profit margins that this is still just nibbling at the edges of it.
- wyager 9y ago€2.4B is a very large chunk of Google's annual profit. How much do these companies gain from having a legally vulnerable physical presence in the EU? I'd guess not more than a few billion dollars a year. The primary benefits are hiring, taxes, and maybe some CDN improvements, but those can be worked around.
- germanier 9y agoThe primary benefit is having an entity to bill their customers (i.e. advertisers). And no, the shop next door will never go through the hassle to wire money to the US (which can be seized in transfer anyway).
- wyager 9y agoGreat, this opens up an opportunity for Bitcoin transfers to Kinakuta.