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EU tried hard to guarantee open markets through rules based security but this is now out of fashion. Instead, the new game is to close your markets to foreigner
by mrtksn 2y ago
EU tried hard to guarantee open markets through rules based security but this is now out of fashion. Instead, the new game is to close your markets to foreigners and say its for national security reasons.
This might be bad for the citizens as it is limiting and breaking the global humanity ideal and I hate it that this is happening but EU must be really stupid to have the only open market then get ridiculed for not having "global" tech companies.
As it appears, the world going forward would be like the Chinese "tech" will be for 1.4B people, the US "tech" will be to 330M people and the EU "tech" will be for 450M people.
At this time, because you can access the EU market form US you can just form your business in US and hire people from EU to do the work. If EU imposes limits, suddenly it makes sense to invest in EU.
If you think about it, EU+UK+Asia taxpayers educate most of the "US talent". Very few of the people who invented the tech are US educated, the US educated ones tend to be the money guy or the entrepreneur free riding on foreign tax money.
Time to end the EU subsidies to US companies or maybe impose tariffs to make up for it. US is being very bad for EU, doing very nasty stuff.
- Maken 2y agoDo not forget the Indian "tech" for another 1.4B people. They are also placing restrictions on how Indian's data is handled on the cloud.
- mrtksn 2y agoTrue, India is also a "tech" giant already. For them getting rid of foreigners is a piece of cake even if their average citizen is much poorer. The very large population is also an advantage. I don't know about countries like Brazil etc. but I am sure that they will notice the benefits of having local companies too.
- robertlagrant 2y ago> EU must be really stupid to have the only open market then get ridiculed for not having "global" tech companies I'm not sure how these are related. The EU has far less money than the US for speculative, big payoff investments, to my knowledge. That's why there's less chance of creating new companies (and new markets) compared to the US.
- mrtksn 2y ago"Tech" is now mature, doesn't need much speculative capital to create the alternatives for US tech giants. Protection will do it, for example banning Google Maps can immediately enable its replacements to take over. Moreover, EU actually has plenty of capital as savings per capita are significantly higher than US. They lack a nice fluid market for it as Europe is much more fragmented than the USA. Recently they announced the creation of a new regime to address that(something like a virtual country with simplified regulations).