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European tech industry faces criticism for falling behind the US in innovation and competitiveness. Ericsson CEO warns that excessive regulation is driving Europe to irrelevance, lacking private capital and a risk-averse culture. Despite challenges, Europe boasts successful companies like Spotify, Adyen, and Klarna.
Europe is falling behind the USA in effectively every area of technology SpaceX completely killed the EU launch ecosystem etc The one area EU is keeping up? Biotech... Because even though they try to regulate innovation to death... at least in biotech the US does the same 😂
"The chief executive of Ericsson said a focus on regulation was 'driving Europe to irrelevance' as he warned that the region’s competitiveness was being undermined and called for changes to antitrust policy." (via GS desk) @FT https://t.co/9VmJ5Wmc3T
The Ericsson CEO said the focus on regulation “is driving Europe to last place [and] is driving Europe to irrelevance” which was why he believed it was “on the way to becoming a museum — great food, great architecture, great scenery [and] great wine but no industry left”. @FT https://t.co/500HGHtE0F