> The puzzle is why the EU doesn't have dominant industries - this is especially stark in sectors that have evolved since the 1980's. Software and Computer Hard

> The puzzle is why the EU doesn't have dominant industries - this is especially stark in sectors that have evolved since the 1980's. Software and Computer Hardware (chips) are clearly one of these, green tech is another. I’m not an expert on the matter, but continental Europe is very conservative compared to the Anglo-Saxon world (here conservative doesn’t mean xenophobia and imperial units, but reluctant to change). My pet theory is that continental Europe is an older continent, where, to oversimplify, electorates understand cars but not computers. On top of that: VCs, angel investors, etc… are not a thing, bankruptcy laws are not as good as in the UK or the US, and bureaucracy is a massive drag. I set up a small software company in the UK, I spent probably 30£. In Italy it would have cost 5000€ just to register the company. God knows how much tax a software company pays in Italy (which is not the same as a café, which is not the same as a lawyer, which is not the same as a cleaning company, etc…).