[enaaem]

Tax breaks is not going to do much, because that is not where the real problem is. Imo EU is being underestimated. The EU is really competitive at boring high tech that bootstrap themselves like cars, civilian air planes and tooling, so the business and innovation climate is not bad.

What's different from the EU and US is that the US has single capital market with more unified regulations where it is much easier to pool infinite VC money into an idea. Contrary to popular belief it's actually the LACK of EU regulations that makes the EU less competitive, because a company has to deal with 20+ regulatory bodies.

In short, the EU should focus on more market integration.

[izacus]

Yep, so much this (and Draghi concurs). It's kind of bizarre that the EU needs to do what it's biggest critics fight the most: integrate it's markets and eliminate cross-member bureaucracy.

[tormeh]

> that bootstrap themselves like cars, civilian air planes

A civilian airplane manufacturing business takes decades to get off the ground, and is practically impossible to start without heavy government involvement. Cars are not that far behind. How did you pick these as businesses that "bootstrap themselves"? Bootstrapping requires a non-capital intensive business model. These are the opposite. These are businesses running on decades of momentum and government support.

[enaaem]

Probably should say companies that are not financed with infinite VC company. Since that is a uniquely American advantage that is not developed in Europe yet.

[YetAnotherNick]

> bootstrap themselves like cars

You mean the cars whose manufacturing has to be stopped because they don't know how to use one chip in pace of another, while Tesla was chugging in numbers because they were the only ones who knows how to program a new chip.

[enaaem]

Tesla is one of the few car companies that receive infinite VC money. European cars are more competitive then American. There is a reason why Trump is complaining that no country is buying in American cars. There are far more European cars in Asia than American ones.