What advancements? Shoveling more money to the top via new middlemen we don't need like Uber and Airbnb? Mortgage backed securities? Blackrock's business model? For profit prisons?
Moving money does not mean advancement in humanity or quality of life for every one.
Yeah... having multiple trillon dollar companies doesnt have any advantage at all... High paying jobs? Taxes? Brain drain? No getting your citizens data exposed to other countries? Nope, nothing.
It's more of the same historical shit, wealth concentrated into a few individual with their cast around them, living in their bubble. History is full of stories like this and it never ends well.
Trillion dollars companies are not an achievement, it's a symptom.
Strictly use Meta as an example, since the HN crowd loves to bash them, during the same two decades they've released Presto, PyTorch, React, llama. Can you see SOME advancements?
I think the EU is a way behind because of a lack of investment in startups.
Edit:
Like 90% of de audio dev industry is in Europe (Native instruments, Ableton, Steinberg, UVI, Arturia, etc).