Comments by "Sedna063" (@Sedna063) on "TLDR News EU"
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@dmmw125 1. Europe does punch above it's weight compared to the world... We are a small continent with less than 10% of the worlds population. Anyway, the idea of very large multinationals is decidedly an American thing from a time when America was the largest economy in the world by a long mile and Europe disunited. And while we are a single market now, companies take time to grow. And since then market leaders in each country have formed and they now compete. That also questions whether having those super big companies dominating the economy is a good thing or not.
2. Europe is not completely without resources but has comparatively little if you compare to the US. And those companies typically have their HQ here but their ops are mainly abroad in other regions of the world. Total Energies is not making their money at home in France.
3. The tech giants benefited from the massive US expansion in the 1950s and 60s which laid the foundation for the silicon valley and the unique risk capital, entepreneurial minds and technology research done there. However, many of those tech companies are massively overvalued. Just look at Meta, their entire business model could be unravelled if Apple or the EU introduce privacy measures. Nonetheless, we do have tech companies, typically not in consumer markets though. SAP comes to mind for example. And with regards to tech, without ASML no chips would be produced nowadays - and they are Dutch with German optics. Tech is all good and dandy but their business models can quickly be unravelled. Yahoo lost their domineering position, did Snap ever make a profit? Zuckerberg spend weeks in front of congress testifying. Apple at least has a business that actually produces things.
4. I would not say Europe is no longer innovative, willing to take risk and dynamic. We certainly are more risk-averse than the average American and that is ok. However, just look at the diverse set of "innovation rankings" and you will find European nations regularly beating out the US.
5. America keeping politicians out of business? Oh please, just look at corporate donations and you see corruption legalised. And regulations aren't bad per se. I quite like not having cancerous additives in my food or standardised electronic equipment. Or having an actual air regulatory body that actually performs their duty (737 MAX scandal). Can't really fault the EU here.
6. We have kept close pace. Just look at the data. You base this on the list of the largest companies. Fortune 500 sees 128 in Europe and 138 in North America. Not that big of a difference. In regards to GDP, GINI, HDI, Innovation, GDP / Capita (PPP) etc we kept pace and don't have to hide.
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