In every economic era, countries competed against each other in “redundant” industries (textiles, ships, cars) to develop sovereign economic power which led to sovereign economic growth. Tech is no different but Europe has ceded all of this to America. It is entirely arbitrary that American tech is given a monopoly on Europe. If Europe emulates the past attitude, it can easily build and substitute American tech for its own. If you are an investor, what do you have to argue against this? Europe has rule of law, educated citizens, deep capital, and half a billion population. It’s not a question of demand. If American tech is Europe now, well that’s your market. If you invest in new tech firms or smaller firms today, you are guaranteed growth by simply collaborating with European governments to replace all of American tech. There’s never been an easier path to low risk returns than this.

@Etiam_Aliquam see last part