[burnerthrow008]

It is an achievement because it shows that the market works: That new companies can be created and blossom and grow by their own merits to become large enterprises.

By contrast, the lack of competition in Europe holds down any newcomer. The only big companies today are those that have already be big companies for many years. That is not a natural state in a competitive market… normally new companies thrive and take market share while others decline and whither away.

The fact that Europe has no new big companies just proves that old big companies are monopolizing the market and using anti-competitive tactics to keep out any newcomer. That’s bad for Europe’s consumers.