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by mrtksn
1429 days ago
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Europe definitely missed out on computers but I suspect it's not that easy to judge if missing out on tech and does mostly textiles. Market cap doesn't mean people are making money or shows the economy it creates. Musk sends funny troll tweet or says something that will result in a fine few month down the road and instantly billions of dollars of market cap is destroyed or created. This doesn't exist in Europe or anywhere else, at least not at that scale. The amount of money in the USA is just on another level. Secondly, that crazy ecosystem in the US sucks all the high potential companies. It's very common for an EU startup to incorporate in the US to tap into that consumer market and that VC ecosystem. The work is done in NL, FR, RO, BG etc but it is a US company. As a result, you have a situation where the EU part of the operations doesn't make any money because it doesn't have to but does all the salary processing and the Silicon Valley HQ makes ridiculous trades and the EU part looks like a loss center. Lots of lots of games are Europe-made, like European talent created the concept, the graphics, the code but if the publisher is American on the books you'll see it as American success. Europe has this investment culture where investors invest into stuff that make profit, in US companies don't have to make a profit as long as the owners of the stocks can trade them and make profit. It's just different, I don't think it's fair to say that Europe does oil and textile and not much more. That wouldn't explain the living standards that are on par with the USA. |
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Case in point: Microsoft Flight Simulator (the latest one released in 2020), developed by a French studio, Asobo (the same company also develops the A Plague Tale franchise). Of course, it was augmented by Microsoft technologies like Azure which hosts the cloud and servers for the streaming scenery, but even so, most of the development is European.