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I don't agree with your first point (how would you even quantify that?) But the second point is absolutely true. The cost of living crisis in Europe is far mor
by nivenkos 4y ago
I don't agree with your first point (how would you even quantify that?)
But the second point is absolutely true. The cost of living crisis in Europe is far more acute due to the effect on natural gas prices and some other items (cooking oil, etc.). The increase in interest rates has also been much greater.
That leads to consumers cutting discretionary spending at a much faster rate, killing off loads of "nice-to-have" startups dependent on that like grocery delivery, cheap credit, etc.
And as the Americans say - "we ain't seen nothing yet"
- mantas 4y agoI see very few european innovations/businesses that are actually making a change in the long run. Okay, we got new loan sharks, new rental services, etc.. Basically existing stuff just using new technologies to grow ever bigger and become monopolies. Selling investors the idea that if they drop €€€€, maaaaybe they can corner the market in the future. US got Tesla. Yet who is threatening Euro too-big-to-fail car manufacturing behemoths? Yet manufacturing is still moving away to Asia and energy issues are ever present with many anti-nuclear advocates with questionable funding. And instead of fixing actual societal issues some twats want to play Euro Empire Building out of EU. But same twats can't even defend an ally in a bloody war.
- sokoloff 4y agoCooking oil is a meaningful part of the cost of living crisis? I’d wager that cooking oil could 10x (and maybe 100x) in price and I’d never notice it in my budget.