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Good news. Yes, as with all government money, there is some pork barreling involved, but there is a long history of such government initiatives laying the start
by _ph_ 6y ago
Good news. Yes, as with all government money, there is some pork barreling involved, but there is a long history of such government initiatives laying the starting seed for high tech industry development. It means money is invested in Europe tied to a certain purpose. Giving talented engineers a job perspective and companies a field in which they can invest into.
- m4rtink 6y agoExactly, I suppose the Taiwan government also helped a lot to TSMC to get started & get where it is now.
- rapsey 6y agoYeah but that was then and this is now. Exploiting these EU programmes is a business for many. They produce paperwork and they get EU funds.
- thu2111 6y agothere is a long history of such government initiatives laying the starting seed for high tech industry development However, not in the EU. The EU has been engaging in massive subsidisation for decades and has little to show for it. In some places it seems to have led to a hollowed out society in which companies that are supposedly startups spend all their time chasing grant money instead of building real products. VC investment is hard work. The EU isn't a well run VC firm even though it deploys more capital than such firms do, and it shows: they don't really care what the money gets spent on as long as there's a paper trail they can use to do ass-covering if it turns out the money was lost to fraud. So it creates this USSR-like culture of zombie firms that can't really survive independent of state funding.