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America loves investing in risky ventures, and startups love money so they go to fish where the fish are. If Europe would invest into local startups instead of
by FirmwareBurner 2y ago
America loves investing in risky ventures, and startups love money so they go to fish where the fish are.
If Europe would invest into local startups instead of propping up the real estate bubble, they wouldn't sell themselves to the US for money. Our downfall is by our own design here.
Governments don't create startups but they can 100% create the right legal, monetary and tax incentives to steer private capital and workers towards them, but as long as they are steered towards protecting the interests of gentrified land owners and those of 100-year-old companies, nothing will ever change and we'll just stare at how US and Chinese companies are overtaking us.
- kbcool 2y agoOr America's advantage is by its own design. Rich people can invest relatively small amounts in hundreds, if not thousands of startups through preferentially treated retirement funds and pay no (or little) tax on the ones that make it big. This is what has made it so easy to secure funding in the US. Should Europe do the same? There's definitely an ethical dilemma in making the rich, richer for the sake of innovation.
- FirmwareBurner 2y ago>There's definitely an ethical dilemma in making the rich, richer for the sake of innovation. What do you mean? The European rich have always been getting richer via inheritance regardless of innovation. That's a monetary and legal policy hack that's been in place for decades/centuries here which is how the richest families are centuries old. Investing in innovation instead would be a much needed breath of fresh air and give current generation of youth some skin in the game instead of a defetist mentality that there's no point in working hard because the zero sum game is rigged. So I don't get your point.