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Europe Is Breaking Open the Empires of Big Tech (www.wired.com)

submitted 8 months ago by CAVOK to c/[email protected]

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[–] [email protected] 26 points 8 months ago (2 children)

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)

[–] [email protected] 13 points 8 months ago* (last edited 8 months ago) (1 children)

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.

[–] [email protected] 6 points 8 months ago

Also SAP

[–] CustodialTeapot 4 points 8 months ago (2 children)

You do know Europe has it's own stock market with hundreds of fin and big techs?

[–] [email protected] 4 points 8 months ago (1 children)

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

[–] [email protected] 7 points 8 months ago (1 children)

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.

[–] [email protected] 4 points 8 months ago (1 children)

Europe has a Wall Street, it just happens to be the City of London.

[–] [email protected] 2 points 8 months ago* (last edited 8 months ago)

Not many of these big companies are listed there though.

At least less than the US.

[–] [email protected] 0 points 8 months ago* (last edited 8 months ago) (1 children)

EU doesn't have any big tech, i.e. tech companies the size and power of Google/Amazon/Meta/Microsoft/Apple.

[–] CustodialTeapot 1 points 8 months ago (1 children)

Oh sorry. I forgot you made the goal posts so that only you can be right. Fucking hell.....

[–] [email protected] 1 points 8 months ago (1 children)

OK, give my the name of a European company you consider "Big Tech?"

[–] CustodialTeapot 2 points 8 months ago* (last edited 8 months ago)

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.....