[pjlegato]

If the "deep tech industry in Europe" refers to bloated, bureaucratic legacy enterprise software like SAP, European tech is doomed.

They only continue to exist because of cronyism, forced sales to large organizations through personal connections; and expertise at navigating the stifling local bureaucracies of their countries.

Those places aren't good at solving narrow problems. They are at best mediocre at addressing the problems of 40 years ago, at a price point far higher than smaller and more innovative companies could do so. They innovate approximately nothing in terms of product design or value added.

Nokia is another cautionary tale of what goes wrong with that model.

[ManuelKiessling]

Just a hunch, but you and GP are probably partly talking past each other: “tech” for some essentially means software/SaaS/cloud/mobile, but for others, it includes a lot more, like all sorts of physical-world technology engineering.

[FirmwareBurner]

I agree with you but there's a reason Nokia died and SAP and Accenture live on despite both not doing innovation well.

Nokia activated in the cut-throat consumer space and had insane competition. SAP avoids both these traps and is in no threat of going away anythime soon like Nokia did.