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Not just ASML, when I working in EU at another major Dutch semiconductor company, the leadership and decision making was mostly US-based and centered around US
by joe_mamba 6mo ago
Not just ASML, when I working in EU at another major Dutch semiconductor company, the leadership and decision making was mostly US-based and centered around US policies, even if the HQ was still technically in the NL, but because PE and most other major investors were all US Bay Area.
For example my manager had to reject a candidate from Iran, simply due to US policies, even if that wasn't against the EU policies, and would actually have been illegal discrimination in the EU where the position was opened, but this policy came from the US and was applied in an unwritten fashion in the EU.
The influence of the US on finance and tech is massively understated. Plenty of international EU tech companies whose business model doesn't revolve around catering to the EU market and sovereignty, will tailor their products and operations to comply with US regulations since that's where a lot of their customer base and money is made. Just read the last post of the CEO of Bird, you can disagree with him that he's a scumbag and he's full of shit, but the truth is if you want your SaaS to make money, you gotta be in the US. That's why Mistral has a large presence in SV and London. Continental EU just sucks for acquiring capital.
Even at the no-name Austrian startup I used to work before, the biggest investor was a US PE, since no German or Austrian investor wanted to invest more than 5 figures in the company, which was not enough to cover the payroll of the ML/data scientists. As long as the EU investors refuse to invest in domestic companies and their future, EU companies will forever be tied suckling to the US teat if they wish to grow and survive.
- embedding-shape 6mo ago> but the truth is if you want your SaaS to make money, you gotta be in the US Worth specifying here you're talking about VC-infested SaaS, not just your run-of-the-mill bootstrapped SaaS. It's very much possible to run a SaaS in Europe and make money, as countless of people already do, which I'm sure you too are aware of, but probably way harder to raise similar amount of money as US companies, that I'd agree with. Edit: Strange typo; s/infested/invested, but kind of makes sense like that too so I'll just leave it, Freudian slip or something.
- joe_mamba 6mo agoSpotify was also a " VC-infested SaaS".
- embedding-shape 6mo agoare*, but yes, they are. Not sure what that dis/proves, but indeed they've taken money from VCs.
- thrownthatway 6mo agoOut of curiosity, did the startup you used to work for survive?
- joe_mamba 6mo agoYep, they grew quite well, though it was pretty toxic, just like a lot of small Austrian companies with PE as investors, lots of layoffs and people coming and going all the time, mismanagement, too much dependence on cheap foreign student visa labor, etc.
- throwaway2037 6mo ago> when I working in EU at another major Dutch semiconductor company Ok, come on, please stop playing this silly HN game of: "another major ... company". There can only be four other options: NXP, SMM, BE Semi, Nexperia. Or a bit deeper: SMART Photonics, EFFECT Photonics, Nearfield, Prodrive Tech, Neways Elec. Which one? > As long as the EU investors refuse to invest in domestic companies and their future, EU companies will forever be tied suckling to the US teat if they wish to grow and survive. Let me respond in the most offensive manner possible: Do you prefer the teat of US or China (or Russia!)? Pick your poison.
- joe_mamba 6mo ago>Ok, come on, please stop playing this silly HN game of: "another major ... company". It's not a "silly HN game" to not want to doxx yourself. Ironic criticism from someone whose username is 'throwaway2037' lol. >Which one? Exactly THAT ONE you mentioned above. >Let me respond in the most offensive manner possible: Do you prefer the teat of US or China (or Russia!)? Pick your poison. You can't talk about being sovereign if your life depends on someone else's teat.
- antonvs 6mo agoThere are plenty of reasons to think China could be a more stable and safe business partner for the EU than what the US has become.