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The Technology Revolution is Leaving Europe Behind
Europe has created just 14 companies worth more than $10 billion over the past 50 years compared to 241 in the United States, underscoring the continent's struggle to compete in the global technology race despite having a larger population and similar education levels. The productivity gap has wid...
Europe has created just 14 companies worth more than $10 billion over the past 50 years compared to 241 in the United States, underscoring the continent's struggle to compete in the global technology race despite having a larger population and similar education levels.The productivity gap has widened dramatically since the digital revolution began. Several high-profile European entrepreneurs have relocated to Silicon Valley, including Thomas Odenwald, who quit German AI startup Aleph Alpha after two months, citing slow decision-making and lack of stock options for employees. European businesses spend 40% of their IT budgets on regulatory compliance, according to Amazon surveys, while complex labor laws create three-month notice periods and lengthy noncompete clauses.
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