[amiguel]

This seems about spot on the related issues with Southern European Countries, although after the big debt crisis we can see that some, namely Portugal and Spain raised their bar on the IT revolution. They have seen a big startup boom in AI, ecommerce, SaaS, even blockchain.

Portugal: Farfetch (unicorn, IPO'd), Talkdesk (unicorn), Unbabel, Apptoide, UTRUST

Spain: Glovo, Typeform, Spotahome, Travelperk

They came late to the game, but now their tech scene is rising.