The assumption is excessive regulation is one of the reason we don't have a domestic tech industry
While I don't think it's necessary the main factor, for sure it's partially true
If Apple, Google, Microsoft and other big tech are cautious and struggling to bring features in Europe while being compliance, I can't imagine how an european start up could trive as their starting market here
You can't really deregulate domestic companies only
No, to the point blue sky, not exactly big tech, is struggling to comply, after being called out.
They said they will, it's not even bad faith.
Contrary to common beliefs, regulations strongly favour big companies, because they have the resources to keep up with burocracy, while gatekeeping smaller companies
The problem isn't VC money either, because American and global funds invest in European companies too, there aren't just as many eligible ones.
Most successful start up in Europe still decide to get listen on american exchanges (see the recent klarna case) This is purely because of favorable environment lol
I mean, I really don't care, but that's exactly how european economy remained, keep doing the same thing expecting a different outcome doesn't seem smart
And no, Volkswagen is the 10th company in the world by revenues, it's not dumping, European manufacturers simply can't keep the pace. The most sold EV in Europe right now is Tesla lol