Why is there no European Big Tech?
There is no Big Tech in Europe due to fragmented markets, risk-averse finance, and complex regulation. This makes scaling up difficult compared to the US and China. To nurture European Big Tech, policymakers must act and consumers also need to actively choose and support European alternatives. This would finance European tech, incentivize innovation and competitive growth across Europe. What if Europe would spend the annual $300 billion, which now goes to US Big Tech, on European solutions?
