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Europe Is Breaking Open the Empires of Big Tech
(www.wired.com)
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this post was submitted on 08 Mar 2024
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I agree that they're not able to compete, but I'm pretty sure they aren't doing it out of spite. I think they just see it as a big, monopolistic market that needs opening to competition (they have taken similar steps in other sectors as well, btw)
Spotify, booking.com, Skype (formerly), Klarna, and Zalando are some examples of large European tech companies. Zalando has been trying to challenge the DSA, actually. But yeah, the majority of the largest tech companies are US based.
Also SAP
You do know Europe has it's own stock market with hundreds of fin and big techs?
Well ofc. But the reason I've heard for why we never have the likes of Google/Meta/Apple etc. is because our market is very fractured compared to the US
The reason is more that EU antitrust regulations still have some bite, and they don't let monopolies like Big Tech form. Also, there is less of a concentration of VC money since the economy at large is less financialized. Fewer firms are public, there is no equivalent of Wall Street.
Whether that's good or bad, I'll leave that up to everyone's conscience.
Europe has a Wall Street, it just happens to be the City of London.
Not many of these big companies are listed there though.
At least less than the US.
EU doesn't have any big tech, i.e. tech companies the size and power of Google/Amazon/Meta/Microsoft/Apple.
Oh sorry. I forgot you made the goal posts so that only you can be right. Fucking hell.....
OK, give my the name of a European company you consider "Big Tech?"
I'm sure you have a definition of your own. So I'll cast a wide web to see what sticks for you.
ASML, ADYEN, NXP, NOKIA, SAP, DASSAULT, BAT, Spotify, LOGI
And yes, I know these don't hold a candle to the Mag7 of America.....