Why The EU Actually Hates Big Tech
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- čas přidán 28. 05. 2024
- If you follow the tech community, you’ve probably noticed that the only party that’s still invested in keeping big tech in line is the European Union. They’re constantly bombarding tech companies with regulation, fines, antitrust lawsuits, and basically anything else they can throw at them. Most recently, they forced Apple to switch to USB C. This has earned the EU a lot of praise for sticking up to big tech and looking out for the little guy, but as with most things, it turns out that the EU has some ulterior motives. It’s no secret that Europe has been largely left behind in the tech revolution. While the United States, India, and China race ahead competing at new leagues, Europe has nearly been demoted to second-world status. The only tool the EU has to continue staying relevant within the tech world and prevent big tech from gaining too much power is regulation. This video explains why the EU actually keeps prosecuting big tech and what this means for the future of tech in Europe.
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Timestamps:
0:00 - EU Prosecution
2:04 - Left Behind
6:09 - Played For Fools
9:57 - Europe’s Last Stand
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Right to repair - Europe
Soon, replacable batteries - Europe
2 year warranty for all tech sold in europe, regardless of less than 2 year warranty by manufacturer - Europe
I dont know about you, but Id rather stick with europe than be ignored as a consumer by big tech.
He is just a sore iZombis
I keep having fun with point three in the shops when they tell me about their policy...
The problem with this mentally is that Europeans will continue being slaves to whatever technology and technical standards dictated to them by American tech companies. If Microsoft comes out with a new Server OS and new IT standards to go with that new software, then Europeans will simply have to slavishly adapt their entire corporate IT landscape as well as pay whatever Microsoft demands for their product since there's no European alternative. Whenever Apple comes out with a new phone or new iOS, Europeans will be slavishly lining up to spend whatever Apple demands for the privilege of owning or using their patented products, again, since there's no European alternative. And when Google changes their policies in Google Map or Google Translate or Google Search, or Google whatever, the EU might huff and puff and levy billion dollar fines until they're blue in the face, European consumers will simply pay higher prices as an unimpressed Google quietly passes on those fines to the European consumer. THAT's the problem! Instead of being an active participant in plotting the future of innovation and tech standards, Europe will eventually become what Bill Gates called an "open air museum". Chinese and American companies will simply see Europe, not as a competitive partner to be respected, but simply a helpless, bloated, screaming rich kid, given to temper tantrums. Their sole interest will be to make as much money off the European consumer while getting as far away from Europe as possible.
The EU is *VERY* good at technology, communications, media, data & privacy. Yes please.
They don't "hate" Big Tech. They are just doing their part to mitigate these sociopaths from making our world a complete dystopia. Thanks, EU!
yeah, almost feels like the title came from a teenager.
Having to click that I agree to accept cookies on every website I visit has certainly improved the world....
Nah they hate big tech.
Based@@mathyeuxsommet3119
what the fuck hahahahahhahahahahhahahahahahhahahahahhahaha this is the biggest joke ever . nestle those so called car companies . the most evil companies are in europe . look at your history . protecting my ass
I'd rather live in an open air museum than an insanely unequal techno dystopia to be honest
I'd rather live in an insanely unequal techno dystopia so long as I'm one of the ones on top.
Open air museum where you can walk and bike around, without being forced to spend $80k on your soon to be primary residence just to be able to make any money.
Fair enough
Lol. LMAO even.
That's an optimistic view. In reality, we (Europeans) will likely still live in techno dystopia but we will be at the bottom rungs of society only serving technocrats.
Maybe Europe realizes how bad monopolies are for the economy
Look no further than South Korea, where the big 4 hold the country by the balls and their owners are pretty much the country's nobles, immune to any laws
The irony that he uses the monopoly guy in the intro of the vid
The government is basically a monopoly in itself. Some of the programs that they run if a private company were to use the same model the government does the government would shut them down overnight.
oh right thats why they are censoring internet . yah good . avarage europien mind
Monopolies bad....
Literally clears a mega merger
Why EU doesn't have successful tech companies? When they succeed they are bought by US companies.
Or they choose to move their operations to the US, because it’s simply a better market for big tech.
@@okaycook1307 wrong its because of language america has been a country under a single de facto language aka english which also happens to be tech langauges . . .
Good 😂😂
Not really. Their governments created this situation. Why didn’t EU tech giants pop up as well when Google, Facebook, etc were in their infancy?
@@awellculturedmanofanime1246lol more excuses. India has dozens of languages too. I visited and saw a thriving tech scene. Its the most impressive market after the US imo.
The real question would be: Why does a supposedly first world country like the United States condemn monopolies that operate against its citizens?
Another real question would be: Why are all monopoly companies from the USA? Is it because it is the only country that allows them to do what they want without caring about anything else?
You're welcome?
Are you nuts? Do you know that Samsung pretty much controls all of South Koreas government? Go look up Tatas influence in India. No the issue is that the US is the only country where new companies can rise to the top. You go across the world and you'll find a handful of companies that have ruled there and openly control the government for decades. Japan is the same. All of these countries are owned by a few small families.
The rock company would argue otherwise...
I'm genuinely puzzled, do you really think all monopolies are American? Like, even setting aside all nationalized or crown corporations, plenty of countries have monopolies in various sectors, they just aren't as influential worldwide as American tech monopolies. America is the one that stands out because their economy is massive.
@@IBeToxicThis feels like a ChatGPT response lol
Unlike the US, where US tech companies enjoy lobbying benefits, the lobbying in the EU is reserved for other industries.
Which industries?
What other industries?
auto industry
@@aboubacardaou7829yup people ignore that Europe is fighting to maintain a manufacturing based economy not tech based one. Many laws are made to make their manufacturing industries more competitive because they would not win in a free market. Auto industry is a very clear example
@@aboubacardaou7829but also religions
So, Europe is falling behind US in tech, that makes sense. But the reason why they're doing these pro consumer moves (like the Apple USB thing) is because they want to claw back some control. But as you stated, this doesn't get them any control, and Apple is just as big before the USB move as after. So how exactly is that evidence that they're doing this for control? Isn't it just as likely that the proclaimed benefits of reducing e-waste, making standardised ports etc. are the actual reason, and not some hidden reason that makes no sense?
Good point
I doubt this has much to do with control, corporations are very international now that they don't really care that much about their native land, it's all about the profits, wherever they can get them.
Corporations will do what's in their interest, regardless of the market they are in around the world, as long as there is profit to be made.
To give you an ideal, there are American pharmaceuticals companies that sell drugs far cheaper in the EU market then they do in the US, you really should ask yourself, why is that the case? In a sense, it's American companies screwing over the American people whiles because of EU regulations, are giving EU citizens a much better deal.
To put it another way, it really doesn't matter where companies come from, they only care about profit and will enter any market around the world that can deliver profit, what makes the EU special is that it does a lot more right by its citizens then the US does and Europeans benefit for that, regardless of where the companies are from.
Seriously, Americans need to wake up, the US government and many corporations are screwing Americans over because the US system allows them to do just that, corporations will always sell at the highest price they can, but they will also sell cheaper in other markets if regulations are in place that force them, after all, if it's a big market, they would rather make some money then none at all.
So think of the EU as free market but with a lot more government regulations on companies to protect citizens.
I personally think is they do this to get a piece of the pie that they can't get themselves. The EU knows that if they fine these companies they will just pay it to keep doing business in their area.
I don’t thinks it’s to gain control but if you see it as it is then it’s to hit the big tech companies where it hurts them the most and that is, profits. When big tech knows that the only place they could profit from outside America is Europe then they have to abide by the laws to continue their profits and EU in that sense is gaining power in front of the eyes of the people but they’re not hurting anyone and haven’t closed any company since they started implementing these rules back in 2011. Look at it like this, you are the new kid in town and you have the newest basketball and toys that are meant to be played outside and with other kids but you live in a neighbourhood that has one house with a backyard and all the other houses don’t even have front yards to play on so you decide to make friends with the kid in that odd house but the father of that kid is a old grumpy man who doesn’t wants his kid to depend on you to have fun so he says that you have follow his rules in territory and because he’s the only other kid on the block that you seem to like, you will have to abide whatever to play with him.
In eu , we care about the consumers(those are the people you see everyday, your family) then americans do.
We are falling back in tech because we have so many nations , too many languages , its hard to standardize that(also wars happened, i have to move from my home town , and ukraine war also).
You have one nation , one language, standardization. (Any nation that needed expansion and got to america first would be prosperus over time(we failed, improved, failed again, and you can take and learn from our inventions , collective knowledge)
Our cities are built for wars(we have swords laying around, guns,spears,horse carriges, towns are complex mazes that only locals know(gives you figting advantage) , casltles , so on. And are built to stand the test of time.Also it takes too much to demolish our buildings. We are also not flatland.
You spend much less on housing , and fail faster, learn faster.You are more risk prone, our morale is down.
When you are surrounded by other nations you always have to watch out. From ALL sides.
If after internet era we found another vast area of land. We certanly would do things differently.
Combine the best approaches from all nations.
Tbh, 90% of Big Tech is also massively overvalued.
We already see the beginning of the end. Thousends of US Tech workers lose their high paying job due to layoffs.
Many big tech companys raise worldwide prices because they reached the growth maximum and still lose money.
bro they make record profits. They just dont need those workers.
Yeah some truth to that for sure
My personal favorite example is Tesla and Nvidia. Tesla has a market cap of around $700B and Nvidia about $1.4T. No doubt both should be valuable companies but as a point of comparison, TSMC is only worth $500B despite easily clearing both in earnings and you can‘t exactly claim TSMC isn‘t innovative either.
In fact TSMCs earning are almost double Nvidias, yet the market cap is one third of Nvidias.
To go even further you can take TSMC, Samsung and ASML, thereby granting you a complete manufacturing monopoly on all modern chips and you would still be short some $400B of Nvidias market cap.
Or similarly, TSMC literally has a smaller market cap than fucking Tesla.
Some of these American big tech companies are just overvalued as hell. They would still be valuable bit far less so.
agree but tech is the future, there no end for the tech sector
Layoffs happened because of the economic outlook being negative. Its purely based on market sentiment. I’m not sure where you see them losing money lol cause they’re all posting record profits.
Simple: Big Tech is essentially state actors for both America and China, but not for the EU.
Hahaha
They really need to build up their EU champions
Yeah kinda at least I'm sure the US sees their tech companies as geopolitical instrument otherwise why would their ignore for so long their own anti-monopoly laws(except lobbying)
We do not, traditionally, allow private sector to take control of politics. You'll notice that the legal bribery you call lobbying isn't something we allow here.
@@yunleung2631 i'd rather they not
America is the land of extremes and Europe is the land of moderation. If America has giant monopolies, Europe has many small to mid-size companies. If America has obscenely rich and extremely poor people, Europe has few homeless and few billionaires. If America incentivizes profit at all cost, Europe enforces replaceable batteries and the use of usb-c wires. If in America you need a car to get anywhere, in Europe you can just take public transport, walk, or bike everywhere.
Europe sucks at innovation and risk taking
They suck at creating technology in the recent past
Which is why America is better, EU policies are horrible
@@surge8307 then move to the US
lol no EU policies are pretty good tho
Europe is the land made possible by over half a century of American subsidies.
4:29 I do not think wealthy Europeans pay up to 80% to various taxes. Please provide a source. Sounds a little overexaggerated tbh, btw I am from Germany.
Probably not. But they pay a lot in VAT taxes. Even in the United States we pay a lot in taxes directly and indirectly of at least 50%. Sad thing is that only a small share get out as it is intended due to government bureaucracy. Like if you are taxed a dollar then about 59 cents actually goes to where it is supposed to go.
@@douglasbrittain7018 In Belgium, the VAT cannot be over 21%. Wealthy Europeans have the means to avoid paying taxes anyway, 80% is a complete overstatement, if not a blatant lie. You can maybe go check to the controversial "taxe de 1% sur les grosses fortunes".
@@bebel4298 I never said it was 80%. That was a response to a post I commented to
@@douglasbrittain7018 You're right. Sorry about that
30% income, 15% social, 10% health. You are now on 55%. Then, you pay up to buy tax of 21%. Also, you tax your car, your house etc.
The EU is doing a lot of good things for consumers
no they are not you are delusional
Good things for consumers hahahahhaha, that's whay they say, but not their goal. Their goal is to fuck companies to have control
That's understandable, given that they themselves are just consumers.
@@jordixboygood enough. I'd rather have that over monopolistic/duopolistic MNCs having control.
@@jordixboyIs good because we, the citizens benefit from it and they also fuck the big companies.
I think the EU is still taking easy in them. They are just pushing enough to not scare them.
"Scare" Americans at your own risk. Big guy. 😂
@@WillieFungolmao muricans think they're hot shit 😂
Until other markets grow big enough that both US and China no longer need Europe.
European children will leave their countries for America as migrant workers, just like their great grandfathers before them.
I think the main reason is that is just another form of revenue for them. They know that the companies will pay the fines to do business in the EU. I don't think it is a noble cause. It is strictly greed on their part too. Like in the video its not the tech companies that pay it but their citizens actually pay it in the long run.
@@WillieFungo "Scare" Americans
just say something about black people and americans are already shitting pants.
Scare and threaten are different things
I strongly disagree with the overall conclusion that the EU is just using the lawsuits and regulations to slow down how quickly they are becoming irrelevant in comparison to big tech. There is still no real link there, and as stated in the video it doesn't even really benefit their people because it forces their citizens to pay more for the products. It's not a 'heroic effort to save the world' but the countries have stricter regulations and stand up against corporations to enforce them something that I would love to see more governments actually do....
Enforce them for what? Holding moral high ground? If you disagree atleast try to give an alternate view.
@@adee6467what are you talking about? Consumer protection and environmental laws are not moral high ground. I'm very happy that the EU imoroves my experience as a consumer, because these evil tech giants fail to do so themselves.
The social media law he briefly mentioned that is being used to sue these tech companies is because companies like Twitter are spreading things like Nazi stuff in Germany, which is illegal. These companies don't care what damage they do is and it is waking society a lot worse and spreading a lot of hate and misinformation. Europe is doing something about it and the tech companies are mad about it.
It's not "just" because of that, but that plays a big part. When you have slowing economic growth and no big tech companies that are leading your economy, easy to pass regulation after regulation to slow tech growth
@@fark69 Please explain to me how it slows tech growth to force Apple to finally adapt to the ten year old standard of USB C for phones
Not gonna lie, I don't care if they're doing this to save themselves. The tone of this video seems irrelevant to me. The fact is, they're still doing lots of pro-consumer stuff, while we're not. I'd rather be over there.
>be me
>from eu
>watches usa news about eu
This is the first video where I do not agree with your conclusions at the end. But ill just go into details on one of the points:
Lets take the example of apple having to open their app store or a browser having to easily allow different search engines etc. These regulations are not there to just make the product more expensive in europe. They weaken the walled garden these big tech companies have. It enables other companies to still have a chance to get into the market without already being a billion dollar company.
I find this one if the best ways to deal with the situation. Still allowing big companies to sell and compete in the local market but making sure it does not turn into a situation where there is no way for anything else except these tech giants to exist.
On top of that these regulations do usually apply to most bigger businesses and not just the billion dollar US companies. Its just a different mindset where you dont really want a single company perpetually getting bigger and bigger just by capitalizing on quasi monopolistic structures they have built. And the companies will still want to compete in Europe and stay competitive. In other countries apple does lower prices a lot to still sell their phones there. If they just keep making things more expensive there are a good amount of alternatives out there that would then gladly take their share of the market. (Aka. basic competition)
I think that having a lot of medium sized companies instead of a few companies making up a vast majority of the total economic output is a more sustainable model that is able to deal with bumps along the way more easily. The EU makes regulations that enable this system to work where you can choose products of 2 different companies and still have them work together instead of this rush towards one compamy with tons of VC money and then looking at how to maybe be profitable later.
But we will see how it actually turns out.
I was actually thinking that, that's a good point about more medium size companies making economies more sustainable. It's a natural product from even distribution.
its not my first i disagree with, but they always have some interesting information i wouldn't have otherwise heard.
I'd also rather be in Europe than the US (but im also Australian which is pretty good)
Appreciate the alternative perspective anon :)
I agree that medium sized businesses are better. But forcing a company to open up their ecosystem, when there are thriving competitors already isn’t fair to Apple. If they were the only guy on the block, then that’d be different. Apple supports their products, still innovates and part of their product you are buying is the ecosystem. There is no real good reason to force it to be opened. Apple has a monopoly over their ecosystem, but not a monopoly over all phones, tablets, etc. Having the walled garden is inherently more secure, it allows for hardware and software to run very smoothly. It doesn’t really benefit the end user by forcing them to open it up. I know Apple is ridiculously rich and powerful, no question. This is an attack on Apple. If I were to buy an Apple product, I would in part do it because of the walled garden, why take that benefit from the consumer❓
I think that's one of the big differences in Europe over America, in Europe, we like to open things up so the smaller guys can compete, being that more competition is always a good thing, wherever it comes from, the US on the other hand seems to look at these corporations as a geopolitical power play over other countries, especially China.
The problem is with that is that in the US, they are allowing corporations to get too powerful that it's undermining the US government, hence all the lobbying, that could quickly lead into a Blade Runner like future, which is a very American like thing that I couldn't see happening in the EU because more common sense is being used in regulating big corporations before they become too big of a threat that it could weaken democracy, which lets be blunt, has already started in the US.
The US policies that allowed tech to become monopolies has been disastrous:
1) Most of the money went into asset inflation aka economically useless
2) The investment were concentrated in only a few specific areas and among a few specific companies aka dutch disease
2b) There was too much capital and too few investment opportunities which is how businesses like AirBnB, WeWork, and Uber too off
3) The tech monopolies destroyed the ability of disruptive startups to form by acquiring them
Having plenty of capital investment is important & allowing companies to achieve economies of scale is important... but there is a limit. We hit it awhile ago. Go ahead, name a massive new invention in the last 15 years. In the 10 years before that there was:
1) The internet
2) Personal computers
3) Smartphones
4) Genome sequencing
5) GPS (wasn't fully operational until 1995)
All that happened 1995-2005. What did 2005-2024 get us? One more glorified blog to share photos or additional ways of advertising? Yahhh
One of many great comments on this video
USA is a technological superpower and hence created all those companies
Europe is a technological backwater and hence failed to create tech companies
Based
I guess the answer is AI? Still not as much as 1995-2005.
@@the11382 Oh yah, there was recently a breakthrough & it is exciting. But nothing compared to the first manned flight and the first moon landing occurring within 66 years of each other
I wonder why Japan's tech isn't as large and Japan has lots of competition between their companies, unlike the US where most of the tech is monopolized. Companies like Panasonic, Toshiba, Sony, Epson, Fujitsu and more they all seem to compete with each other and none are dominant.
Because the U.S. tech isn't actually monopolized. The large American companies are just so good that they can dominate the market without using anti-competitive practices. This is a simple concept that seems like rocket science to most Europeans.
@@WillieFungoexactly. And using anti competitive practice ls doesn't really make you a monopoly. At it's peak, Alibaba was more anti competitive than any US company yet it still had multiple huge competitors within China alone
Philips will soon move their world headquarters from The Netherlands to South Korea taking all the stake of the former Daewoo Electronics and move their headquarters to Seoul, South Korea at the same location where Daewoo Electronics use to have their main headquarters to avoid high taxes.
Imagine Philips being the same Daewoo Electronics what will happen to the Japanese giants?
@@WillieFungo I don't think it is that, at least compared to Japan. Japan's tech is incredible and their build quality amazing, it may just have to do with the fact that Japan is more hardware focused and the US more software focused such that Software is easier to monopolize.
There are loads of US companies that use anti-competitive practices and have for years, remember what Microsoft was doing in the 90s.
@@WillieFungo I'd disagree that American tech giants dominate without anti-competitive practices. In fact, that's what the recent EU rulings, particularly regarding apple have been about. Previously, apple had a monopoly on what software could be installed on their phones and used the lightning charger as well as SMS messaging, both outdated standards, to keep customers within their ecosystem, in the one case by forcing customers to buy entirely different cables if they bought a different phone, and in the other case by forcing a worse communication standard on apple users who texted non apple users.
Worshipping "tech" in isolation brings little to the table. USA is running 5-6% gdp deficits each year. Deficits which should have been covered by the largest companies in the form of tax revenue. Meanwhile Germany has more or less a balanced budget. EU on average runs a 1-2% deficit. You cannot look at just one side of the scale.
Keep your terrible European economics in Europe. While I do have some reasonable critiques about how the American government is run, I would rather get $200,000 a year for a job that would pay $80,000 in Europe thanks to our vibrant tech industry.
@@WillieFungo You are paid $200,000 yr in america for a job that should only net $80,000 yr the same in which walmart workers in Alaska make much more than walmart workers in Arkansas. Your job location requires a very steep cost of living. I'm not sure why that escapes you. You certainly don't pocket $200,000 yr with your Housing, Food, Utilities, Health Insurance, Car costs and gasoline prices, and all the other million things you must PAY for every time in the US. don't forget the godzillion hours of your life spent on commute or the fact that you must live in the ugliest country in the world.
@@kilojuliet2693 That is some of it, but it's not all of it. The U.S. has the most household disposable income (cost of living adjusted) of all OECD countries (data from Statista). It is about $15,000 higher than Switzerland. We are just a more wealthy and developed country, and our lead is accelerating by the year.
@@WillieFungo I have nothing against high US salaries, you missed the ball completely. The point is that US lead in gdp growth is mostly fueled by constant and wide gov't deficits, that wasn't allways the case and seems to be a novelty from roughly 2008 onwards. There is a lot more money to go around. That money that goes around in the industry (tech or non tech) is forsaken by the treasury. Since you do research data (Statista) pls consult IMF page or Fitch reports, or just deficit comparisons. Don't get me wrong, I love USA, I invest and believe in USA, just saying that presenter didn't paint the whole picture.
@@massafelipe8063 That's not true. Deficits don't necessarily fuel GDP growth, otherwise Italy and Greece would be booming. U.S. growth has been driven by big tech, private sector investment, and consumer spending. This is a positive feedback loop because the higher the salaries get the more people spend.
Despite our occasional corruption problems, but not bowing to big tech companies is one of the reasons why I am happy to be living in the EU
european incompetence at creating tech companies is not a joke
Big Tech does bow to them, though. They are a big reason Big Tech is so rep.r3ssive nowadays. Would they willingly suppr3.ss speech and @.buse their users to such an extent as they have in recent years were it not for mandates coming from up top?
Case in point. Couldn't even get that past the c.3nsures after several attempts trying, hence the periods and numbers.
Why are so many Europeans triggered by this video? Idk seems like it's a v logical point about how EU lost the tech race. Easy to not bow to big tech companies when you don't have any. Also Germany bows a whole ton to SAP. They basically turned an entire German town into their HQ
Your children won't say the same 50 years later after you are dead and they will migrate, believe me.
Say what you want, but most of the stuff the EU is doing to slow down the spread of power of "big tech" is quite based.
Imagine Philips moving their headquarters from the Netherlands to South Korea on the site of Daewoo Electronics use to be headquartered.
One thing, we don't pay over 50% of our income to taxes, that is not true.
I for one only pay about 40% AFTER my so cold free-card has been used that covers the first 8K of my 30k salary.
So the tax i pay is only based on 22K, take 39% from that and you get the number to keep it simple.
We don't pay over half of our income in taxes. I understood where that statement came from in the first place
And that number includes healthcare, retirement, and a bunch of other stuff. In most states where tech workers live by the time you includes all taxes and healthcare costs it is not that different.
source to any of the claims you gave?
Trust me bro
The numbers he gave for taxes in the EU and the US were bullshit tho, the highest tax bracket of income tax in most of europe is 50%, but you only pay this amount for the money over a thertain threshold, so the effective tax rate is much lower, especially for middle class people.
The income tax also includes social security, health care and retirement savings.
So comparing this to just federal income tax is extremely dishonest at least.
Maybe you aproach some of the numbers he mentions if you also include sales tax and other such things but those exist in the US too.
TLDR:
He compares apples to oranges, if you add federal, state and local taxes in the US and add sales tax insurance and other expenses, the numbers aren't that different.
It may be true that taxes are lower overall in the US, but the comparisons he makes are absolute horseshit
Not surprised, the level of research has gotten kinda worse on the channel lately. The videos still bring up some good points here and there, but ultimately they're disconnected and don't extrapolate a quality conclusion.
Yea this video is completely bs. How can you possibly defend a sector like big tech that has historically been so ANTI CONSUMER? He's biased towards big tech because his interests (CZcams CHANNEL) live in big tech only...
Is it really desirable to have most of your industry be tech companies? While I agree that Europe could definitely have more large tech companies, I am not sure that it is better to produce software than energy, medicine, windmills, etc.
Europe is failing at that too though lol. What energy are you producing?😂 what medicine?😂
@@user-cr1iz8fw6h Novo Nordisk is the largest pharmaceutical company in the world. The offshore wind is also much more developed in Europe.
@@user-cr1iz8fw6h
Medicine? :
Bayer
Sanofi
AstraZeneca
Boehringer Ingelheim
And a few more which are located in Europe
Energy:
Europe all in all produces about 3 TW of Energy per Year which is just 1 TW short of America while having a bigger landmass (3,910,680 sq miles EU vs 3,531,905 sq miles US ) and a larger Population. Europe all in all has 746.4 million (2018) people living there vs about 340 Million in the US (2021). Talk about efficiency. And EU is the market leader in renewable energy technologies which will be needed more and more in the future due to more and more pollution. And yes i know i should not open my mouth to far since im living in Germany and the regulations in regards to clean energy are dumb as shit but if the powergrid would have been built out beforehand we could already sustain about 40-50%+ of energy from those said renewables alone.
But what you gonna do against idiotic Goverment regulations in the energy sector.
So stop talking shit and get your facts right.
@@user-cr1iz8fw6h You know the mRNA vaccine tech was developed in Germany right? There is a lot of cutting edge biotech happening in the EU.
Energy?
USA is the biggest producer of Natural gas and oil
USA is second biggest producers of Solar energy
USA has some of the biggest biotech companies on the planet - Johnson and Johnson, Pfizer, Moderna etc@@Immudzen
There is a lot of tech companies in EU, they just don't go crazy with publicity stunts as european investors are more interested in facts and low but steady rentability. Also, most companies are family-owned, thus more focused on supporting local communities…
Stop making excuses for European failure to create tech companies
European incompetence at creating tech companies has been well known
Funny joke. My brother went to school at one of the top unis in France, and everyone was scrambling to get out of there like rats on a sinking ship. The European tech industry is a joke. And European economies, in general, are utterly stagnated. In 2007, the U.S., France, and U.K. had roughly, the same GDP per capita. Now, the U.S. generates $70,000 per person, while France, and the U.K. are still under $50,000.
The American poor now generates the same income as the European middle class. And that American income inequality y'all love to shed crocodile tears about, is actually driven by well-educated, well-deserving people from around the world earning $200,000 a year for a job that would pay $50,000 in Europe.
@@WillieFungo Well, that's only because they can print as many dollars as they want
@@WillieFungo Uh huh
Did you take in mind inflation?
Like for example... I don't know... housing prices in the US that have increased by a maximum of 400% in recent years?
And I'm not too good at math but 400% is way bigger than the 20-25k GDP per capita increase you talked about in your sentenced, since you said "France and U.K. are still under 50k".
@@DragonSkylander30 Imagine crying about American inflation when the dollar has been rising dramatically against the euro since 2009. If we have inflation, it is not negatively impacting our wealth relative to yours. Even accounting for higher costs, Americans are still much richer than Europeans.
tech is growing in the eu
comprehensive analysis conducted by Notion Capital on the dynamic European business software ecosystem. The venture capital firm's research indicates that startups and scale-ups within the business software domain have exhibited exceptional performance, propelling their collective value from $712 billion in 2021 to an impressive $1.2 trillion in 2022.
There have been some push over the last few years to boost tech in the EU because of what happened in the US with Trump and what's going on in China, we'll have to see if that trend continues.
But there's no reason why EU countries can't have a big tech industry, they've got the economy, population and skill set to make it happen, heck even much smaller countries like South Korea can do it, just that it's not been much of a focus in the EU as they tend to focus on small to medium size companies that specialise in specific areas, but they are more than capable of getting in the tech industry, and that would probably be a good thing for the world economy and consumers considering how big the EU is.
This guy really knows his joint, on how to keeping the viewer in an infinite loop like a TV-series. I've started with linux, then android vs ios and now I'm here, willing to head over the next video. Well done
At first I felt the same but this video really killed it, being filled with inaccurate information and conclusions. He doesn't talk at all in detail about the legislations and how they actually are about protecting the consumer, similar to how the EU countries have a social security net for its citizens while the US still doesn't even have universal healthcare. I guess if you have grown up in a developing country the US still seems like the land of opportunity, but sadly that has not been the case in a long time unless you are working in tech, which is becoming worse as layoffs are rampant.
@@hafuketo9458 high texes . feel pity for europe . they lost the race to usa . universal healthcare my ass . waiting time is killing people . and yah 80% of income going, to texes . yah baby good life .usa is more developed and more advanced then europe .
@@hafuketo9458He's biased towards big tech cuz his channel is on one of big techs biggest platforms CZcams.
I agree, he should be the next target of EU, he monopolized my free time. I strongly suggest diving your videos to separate CZcams channels where each first letter of the video would correspond channel name; channel A, B, C.
EU doesn't hate big tech... enough.
As a Sidenote, the USA only needs to support and Advertise in one Language to have a Possible user base of more then 226 Million Users, in the EU you need support and Advertise in Minimum 6 Different Languages, and the Lobby work of "Big Tech" and the "Safe Harbor" agreements between the EU and USA was not Lobby work from EU Companies.
How does that make sense when you consider USA talk also dominates in the EU?
@@NONO-hz4vo In the EU at most 50% have English as a Second or First Language and When you advertise in any other Language then the First Language its not Effective, you CAN advertise in English but you can think how that works out.
well, EU also isnt a single country unlike usa
Developing for different languages for an app is very easy. Has never been easier. US companies do it for languages all around the world. Imagine if Amazon complained about all the dozens of languages in India they have to support. Just excuses.
@@CrisCheese_You’re a confederation.. much like the US was. The US isn’t as integrated as you think.
The EU has fined EU car makers billions as well. So I don't see the EU regulating against US as a retaliation towards US tech companies.
How is this "Logically Answered". This is just a bold claim to say Europe is making a last ditch effort to save themselves from the US Tech companies and their own industry. We just have stronger privacy laws and our governments actually hold our company to the same standard as they do with foreign tech companies which is a good thing. No, the EU won't go belly up and just turn into an open air museum just because we have older cities and human friendly infrastructure. Of course the EU isn't as important or strong as when we owned half the world but that's not the point in any of this.
Big salaries in tech in the USA are over anyway. The massive layoff are not finished. And people are moving from the SV to Texas in the pursuit of lower taxes. EU is not saying : hey lets remove all taxes so you IT guys can get rich and live lavish lives while nobody cant have good medecine and the global infrastructure of the country in falling and that money and salary mainly profit indians and asian migrants. EU is saying the money stay in Europeens pocket and the hospital and infrastructure are still paid.
In the long run its risky because you lose owner ship but in the short term its smart because you are not doing crazy bubble with high very high and low very low and you try to have a sane economy with regulation everywhere. When you give power to private people without anycheck the temptation to do nonsense is big. It's like if you give free access to guns most of people will act right but you will have here and there people doing mass shooting. Or mass layoff with their stocks going up. Regulations and keeping big capital in check is not always a bad thing. Sometimes the cost is growth and business . If for the population it's worth paying they will be agree. At the end of the day nobody in Europe will vote for somebody that will lower the taxes with all the consequences ( bad infra, bad health , bad food with corn syrup like in the US ) just for some companies to make billions and their CEO do speeches in conference to gloat that they are the future and the smartest person on earth avoiding the discussion of how the regulation and all the society carried their entrepreneur journey.
EU has had the same stance for 30+ years with challenging all tech. giants starting 1996. EU has nothing against technology giants. EU has laws that protect privacy and demand fair competition. EUs 'fights' against tech. giants are absolutely minuscule in the grand scheme of things were EU regulates such a large part of the world's commerce in general.
EU has but the following end goals in general: quality of life, rule of law, equality and prosperity. If anything or anyone comes in the way with that, the obstacle will be removed.
And they refuse to pay any tax. They'll likely expand the digital sales tax they rolled out here in UK a few years ago.
The US low tax rates means lots of money sloshing round the economy, so corporations are incentivised to raise prices to hoover up any excess left after essential living costs. In comparison, EU citizens have lower take home pay - BUT also have social welfare, healthcare and strong consumer rights and protections. Having a lower ceiling on disposable income means companies have less chance to price gouge EU consumers - which is why the cost of basic essentials (food, groceries) is substantially lower in the EU (typically 30-40% cheaper) because local market conditions wont support sustained higher costs. The EU is also willing to make long term investments in poorer regions, unlike the US where investment always follows the money.....
And people all around the world starts to love EU. The regulation the world needed.
That's good, more government control. And it isn't always in the publics best interests.
@@douglasbrittain7018 in this case though, it definitely is. Big tech doesn't give a f*ck about people, they only care about money. So it's good that the EU steps in to stop corporate overreach.
nah the EU is americas enemy i can tell asia once russia is no longer a threat they will become an enemy to us the US our allies are now in asia not the ungrateful europeans
The Thing I love about EU as a non-Europian
The problem with europe is we dont speak the same language and too many damn wars.
I'd rather have govt dominate corporations that the other way round
Because most of them are in Silicon Valley, far from the EU's control.
Facts
@@LogicallyAnswered It's basically one beast getting angry that it couldn't control another.
@@HolyknightVader999 Sir, we just banned making new charging port and charger every single time you make a new phone mode...
American: THIS IS LITERALY 1984!!!11! .
@@madtechnocrat9234 More like this.
Every tech giant: "Let's go settle on Silicon Valley!"
EU: "Wait a minute! You can't do that! We can't control them!"
I judge policies of countries by the level of convenience and prosperity they bring to majority of their nation not just a few on top. The reality is, if you ignore the exceedingly stupid migration policies of the EU in the past two decades, an average western European citizen has way better quality of life, privacy protection, digital rights and working conditions than average American. That’s really what matters to me.
It's hard to maintain all of that if your economy is stagnant. How can you even generate enough tax to maintain and grow those systems if companies either flee abroad due to onerous regulations or a lackluster tech environment?
@@danm524 The europe is doing ok. they are still considered to have fairly free market, in some areas even more than the US. Their policies are still quite capitalistic, not US level of course, but still. They just don’t have tech monopolies. they may have less revenue than the US but it’s distributed much more equally. The growing economy of the US is not truly translating to better living conditions for Americans in the past 2 decades.
Are you kidding? The lower 3rd of income strata in the U.S. is incurring real wage growth? Not nominal real wage growth, real wages.
Let’s not even mention the GDP of bloody Mississippi is comparable to France.
AND the average American is economically more well off post COVID then the average EU citizen.
The EU cannot use the excuse that “our economy is stagnant because we use our resources to take care of our citizens”. Heck, the inflation rate in the U.S. is currently lower than that of Germany, the main economic powerhouse of the EU.
@@danm524 the GDP means nothing when it’s distributed excessively unequal. It’s all going into pocket of the wealthy while average american’s income is stagnating for decades now. western european citizens enjoy free or cheap education at college, free and cheap healthcare, a decent public transport and so on. They have way more occupational rights and paid leave and vacations. Companies can’t bother most of them after work hours. While americans are getting shit by corporations and job security is a joke for average american. The recent clashes between tesla and unions in europe show how much big corporations are screwing workers in the US.
At the end of the day, it’s the quality of life that matters and besides the immigration policies of the EU, average western europeans have more life quality that Americans.
eu couldn't even create a single company in the top 10 while us has 7
the score is 7-0 in favor of usa
eu is ajoke dud@@user-pn6qq1zr3x
I’m back!!!
Eu is quite strict and regulations . This can be understandable because of American tech company track record and the scandals transaction
Great video ❤
Ah, glad to see you again Arnav!
ok tech bro @@LogicallyAnswered
It's not EU that lacks big tech, it's everywhere that isn't silicon Valley that lacks big tech. Silicon Valley is truly impressive
One major advantage US has over EU in tech that is not mentioned in the video is common language, we dont have to translate anything as its all in American English.
American big tech have translations of their products in almost all common languages...
They export internationally after all. Just open you phone and look for language settings...
We have actual privacy laws in the EU. This is hard to understand for US citizens, but it is true. An example: I work in fiancé and risk underwriting, for the US market I had access to a online tool where I could check everything on the applicant, even who his neighbors where and what they where doing. This is unthinkable in the EU, I was shocked. The reason why US companies are fined all the time is that they break the EU laws in regards to privacy, mainly data sharing and usage of data.
EU regulations also the reason why EU won't get own Big Tech
See this video has one major flaw to me, it takes only the “tech”, I added apostrophes because we need to establish what tech markets are. If we talk about smartphones, computers or consumer electronics in general we can agree that EU has fallen behind; but if you take other markets, that can be made tech in certain ways, Europe is still on top of the list, take cars for example or airlines and navy sectors also you have forgotten that the only corporate that create machine to produce CPU is from Netherlands.
I wouldn't say we have a tech inferiority, we just don't create such greedy big tech companies lol
Not many startups either though
The usa is a better country to expand to because they like to buy shit and because they all talk the same language and most tech companies need scale to be profitable meanwhile Europe are a bunch of countries that have different language,cultures,laws ect
No we are definitely behind on tech. The US has both big tech as well as the entire startup scene with all the VCs such as YC. Furthermore, since it is way more lucrative to work there (2x salary) all the top talent is there as well.
Yes but also, there just isn’t much space for startups to thrive like they do in the US. Call it greed if you want, yes it’s certainly a factor, but at the end of the day, even the successful companies that did start in Europe seem to constantly look for ways into the American market, and there is a reason for that
@@LogicallyAnsweredas a Dane I feel like a lot of stuff is built on Danish startups, skype, office 356, google maps to name a few? It seems American companies just buy European startups.
We owe so much to the EU!! Keep up the great work the US fails to!
Europe needs to subsidize their own tech companies more to prevent American tech companies from buying them out, and this is now happening and growing as we speak.
It might take a few years to see the fruit, but EU tech is definitely not dying out lol.
It just needed more capital support and that can be easily done through regulation.
But at the same time, the quality of life for Europeans still remain compared to Americans and their messed up social safety nets.
They need to fundamentally change their economic system. Right now it’s looking a bit like the former Soviet Union.. throwing money at it won’t fix lack of motivation.
I’m not sure what this “quality of life” you talk about is lol. Yeah, locally, some EU countries have higher life expectancies by like 2-3 than the entire US as a whole. Your disposable income often seems like a joke and your living conditions seem comparable to developing nations from what I’m seeing.
@@user-cr1iz8fw6hfrom experience it's much cheaper in Europe to live than USA, and essential healthcare is often free or nearly free which is the most important thing for many. In the UK you can live on around £18,000 - £20,000 per year although without luxuries such as holidays etc. A house share would set you back no more than £650 a month here and food has come down finally.
@@user-cr1iz8fw6h I agree. Europeans watch a bunch of exaggerated T.V and think America is some horrible hell scape. But in reality, our poor earn more than their middle class. And our upper middle class makes them look like developing countries. We also have plenty of safety nets (like medicare and medicaid) for seniors and people who really need it.
@@JamesTaylor-je6es Give it a rest. The cost of living in London is almost as high as New York, while the salaries are 1/2 of New York salaries. As for the rest of the U.K, sure it's cheap -- but so is living in Pakistan. That's what tends to happen when no high-value economic activity is going on in an area.
In EU we are paying taxes to have a better lifestyle rather than work without knowing where our head is. In EU everything is taken care of, while in US you gotta pay yourself.
It is waaaaay less about taxes, and way more about personal welfare/protection>market
EU Actually Hates Big Data.
4 companies only apple is consider a hardware company (Apple also have monopoly on all music thus big data). With label Design in California and made in China. Big tech is very different or unique sector, in 50s - 80s hardware sector was industry flagman. In 90s richest person became language writer Big Gates real tangible hardware become secondary and language code become king of all tech industry. And today even bellow language is journalism written by social media News without journalism and e-shops (Amazon). Hardware become in third place. Samsung is 4th company that produces tangible hardware, TCM not goes into 10 biggest tech companies. All tech industry is just Big data, software is secondary and hardware fourth.
And what is third?
firmware @@coprilettodelnapoli5466
@@coprilettodelnapoli5466 1. Hardware. 2. Software. 3. Big Data (clouds servers, streaming, social network, e-shopping). Yes is third.
EU cares for its people unlike uncle sam.
No, they just hate their peasants in different ways
I mistakenly read “unlike uncle scam” 😂
The eu also doesn’t care about us anymore because we have too many old people nowadays but do to our culture theres more atriction against it, also it very from Europeans countries
You will eat ze bugz
Eu is an embarasment at innovation and technological prowess unlike uncle sam
Europ was a superpower at starting world wars and kilng tens of millions of people unlike uncle sam
This video makes no sense. There's no way that the EU is regulating companies to try and reclaim their capital from America, because that isn't what regulating companies does.
1:08 do you understand how critical ASML and SAP to the entire world functioning? ASML is soul manufacturer of UV machines responsible for modern Chip lithography. And SAP is the largest b2b software solutions Supplier. Basically every single one of the companies that sit above them on the fortune 500 list pay them and process data through them.
rich people dont need and dont sell their stocks to get money. They borrow. but compared to an average person they get impossible good deals making the money basically free. They can take out some super large amount like lets say $10 million and banks will give em like 2% interest rates. Just put half in index funds and stocks that earn more than that to pay off interest and valla u have free money basically. Thats impossible to do for an average person as lower rates arent that good for lets say, one's student loans or loan to do a medical surgery, something an average person might borrow for.
Right, the "hard work" we're told makes us successful is nowhere near as profitable as the personally-accessible "business" loans and arcane tax dodges that only the already-rich have access to.
I think your conclusions at the end are incredibly short-sighted. Come to Europe or even just do a bit more research about our industries and you’ll see we’re far from “an open air museum”. Btw, that speaks to whose cities are designed better! 😉
Living in the EU has many benefits over living in the USA, and vice versa. We’re just different, we don’t have to be better or worse than the other.
It’s a good things that the US and EU are allies. Cooperation is always preferable to conflict or isolation.
Too much of that American cool aid that distorts reality.
In the US, everything is seen as a competition, in Europe, we focus more or balance and quality of life, you only have to look at a lot of metrics when it comes to quality of life to see who got the better end of the sticks, especially considering European countries dominant the top 10 whereas the US is slipping further behind since Trump and is continuing to do so under Biden.
In any case, there is far more to life than how big an economy is or how low unemployment is, or how many tech companies there are, all these things means little to nothing to the average citizen, quality of life matters far more, especially from the bottom up and in that case, European countries do it far better than the US and there are countless research papers and studies online that show that, heck, even a lot of Americans that moved to Europe admit that Europe is better.
You note at the beginning that 40% of people dont pay tax but this is misleading to the rest of the video. With our progressive tax system the poor dont pay taxes. If you calculate how much in total tax brought in that the top 10% pay its the vast majority of it.
We don't hate Big Tech. But we don't like wild west methods either.
I usually like your videos even though they often use straw man arguments but this one is so incredibly unfactual and driven by a ridicolous narrative... I dont even know where to start.
Taxing big tech here in europe does mean that big tech just increases prices, but that money can be used for government spending to work against the potential of deindustrialization. It's really no different from the traditional model, as companies will always include their costs (and thus taxes) into the price. I mean this is really just a great way to collect taxes people are unwilling to pay indirectly.
And the sad thing is that most of the people don't realize or care. The business have a profit margin and they will keep it and pass on to consumers. That's the reason why a lot of tech stuff is more expensive outside of the USA. It's because of the VAT taxes that are passed through the companies to the consumer. If you calculate what the custom charges are and VAT taxes imposed were removed, they would cost about the same in the USA..
@@douglasbrittain7018 That is partly a good thing. Taxing this way is easier and Not nearly as sucritinized as increasing Other Tax Rates. The Money is still needed for Important spending and Investment.
@@egal1780 The thing is that not all that money goes to where its intended. Due to that bureaucracy that goes through the tax money is only a fraction of the amount that it is intended to go to.
@@douglasbrittain7018 that is correct. But the bureacracy is on purpose. No politician will dare to Change anything, as There are so Many people living Off of this. Any politician wanting to Change It will face Public backlash by the very workers of that system, who will fiercly Fight in their worry that their Job will be cut.
It's basically Like an indirect subsidy guaranteeing employment.
Stop trying to downplay the EU's efforts to finally crack down on a sector that has been completely unregulated for way too long. This time it might especially hit US companies, but they do the same for sectors that are very strong in the EU itself (ie.car companies). Also, every regulations apply to EU companies as well. So claiming that they just do this because they don't have their own billion dollar tech evils is, frankly, stupid.
As a conusmer you should be happy that you are finally getting so many consumer protection laws that often affect US consumers as well.
“Unregulated” markets are the best
It's not so much about the EU hating big tech but more about the EU listening more to the public interest, big corporations rarely do what's in the interest of the public, in fact, history has shown it to be the other way around where they harm public interest with buying up smaller rivals to give consumers less choice and higher prices, they also try to monopolise the market they are in, giving consumers little to no choice, they also make it difficult for smaller companies to compete, which smaller companies and many of them usually gives the public more choice at a lower price point compared to bigger companies, unless they have major competition in that given sector.
In the end, a lot smaller to medium size companies would likely benefit us all compared to having a few massive big corporations that control everything.
We should also remember, the EU goes after far more companies in the EU then it does US tech companies, it's just that you tend to hear about the big tech companies in the news a lot more, so this has little to do about the EU going after US tech companies, they go after big companies in general, from around the world.
The simple truth is this, in the US, lobbying has got to such a level that big companies almost have a free ride in the US and can do almost what they like, the US government has become weak when it comes to regulating its own companies that it's taking outsiders to do it for them, and it's not just the EU, a lot more countries are getting tough on big companies and it's long overdue, considering the power and consolidating that big companies have been doing over the last few decades that if left unchecked, it could become a threat to the public and even democracy its self.
The highest personal income tax in Switzerland is wrong. It varies from canton to canton. In Zug, the highest income tax is 22%, as opposed to the 59.7% shown in the video.
I dont completely agree. I agree with some of your points but not the proposition as a whole. Privacy advocacy groups have quite a bit more political influance in several eu countries than they do in the US.
Because the EU hasn't forgotten that teh FIRST chapter of any book on free market is NO cartels and no monopolies!
Apple is a big chunk of Berkshire Hathaways stock portfolio, but not of their total holdings. Berkshire completely owns dozens of companies outright. They're $180 billion investment in Apple is just a small part of berkshire's total assets.
I'd reverse this question into: why don't other countries take action against the destructive monopolistic practice of big tech?
Because from my point of view the EU is just doing the bare minimum when it comes to big tech.
I wouldn't say that the EU is a guardian of justice or something, but it has generally proven that conflicts of different interest groups are better than monopolies in long-term view.
I agree that EU regulations against Big Tech aren't coming from a place of empathy with the end consumer, but it's better than nothing. And it's perhaps beyond the scope of the video, but you could also ask yourself *why* having a Big Tech sector is somehow desirable or necessary beyond the shaky logic of late stage capitalism.
"beyond the shaky logic of late stage capitalism" Beyond purely capitalist terms? Do you mean state power projection that could be weaponized through those companies?
@@useodyseeorbitchute9450it's incredibly cute how you think your state has any control over those corporations 😂
@@pvshka Based on a few leaks plus openly revealed data from Twitter, those corporations were more than happy to censor stuff that was especially annoying for the establishment. So it looks as some degree of control, though one could argue that this establishment is anyway merged.
@@useodyseeorbitchute9450 fair point. There's definitely a level of influence.
It’s very simple. We care more about consumers than companies..
I saw that the US does have other tax rates other than the federal one... including sales tax that is rarely included in sales price, state tax etc
Property taxes are huge as well. They earn more but everything is so much more expensive outside of consumables.
As a "yank" working in high tech for over three decades and living in Europe, it's not that the EU hates US tech companies. They hate US companies that do not pay their fair share of corporate tax, treat employees as disposable monkey meat slaves, give insane bonus packages to senior management while buring the company to the ground, constantly trying to get around regulations and laws that keep citizens safe to make a buck (on and on)... The EU just doesn't want the political, economic and income dystopia of the US (and Asia), and want a more "fair" society. Not just a society ruled by the super-rich and the poor consumer living on credit (held by the super-rich) to be one step short of being the slaves of the super-rich... while an orange simple-minded bigoted dictator (who doesn't pay taxes and lives a super-rich life) destroys the free world. Someone has to be the last stand for sanity and for the people - for a decent and fair life. Thank you EU!!! BTW, there needs to be some fact checking on many statements about taxation or the results of high taxation in your video, as many statements are not true and/or sources referenced were misrepresented.
Money, power, and control. Typical American argument! It's very healthy for the big tech to learn they can't do whatever they want.
My tech salary is higher in the US, so it's the burnout. I hardly see myself as a winner or the EU as the sore loser. A short-sighted conclusion
The fun thing abauth Eu taxes --- most of eu companys report losses to avoid paying more and run into casinos to launder :P
There is more in life then only FAANG
the reason we got usb C in iphone is thanks to EU
Some call it socialism, communism, i call it balance.
All your tax percentages about the EU were wrong. No ody pays 80% of their inxome in taxes. Nobody. When they law establishes that incomes over let's say 1,000,000 euros will pay 80%, that 80% only affects the income that comes after the 1,000,000 euros. All the income before that will have a much lower tax imposition. if they get 2 million as income then they would pay aprox 1,000,000 im taxes. Look into it, and please correct this video.
um.... I'm unconvinced. Most of their actions seem to fall into the categories of protecting the consumers or protecting the environment. Those *are* big social wins even if they don't control those entities. They still control enough of the market where they can influence these "holders of capital" to benefit their society.
That's not nothing considering USA lets them engage in huge tax avoidance and has much fewer consumer protections. Obviously the EU is leveraging their market size far better, is what I see.
Your i-Phone example is weird because actually most europeans don't buy i-phones. It's not like there aren't alternatives out there. Same for Tesla.
Eu was the first pioneer in solar panel technology but noooope! The politicians and ceos saw that sweet short money and sold to china
4:52 Fortunately for the 99%, it's far better to be a poor person in Europe than a poor person in the USA.
The American poor earn more income than the European middle class.
@@WillieFungo Yeah? And how are their living standards? How much debt? Cash at the end of the month is not everything.
@@Draconicrose How people chose to spend or mismanage their money is not my business, nor is it yours. The fact is that they have more cash, and they can chose to do with it what they want. Also, American poor get a lot of free services like free healthcare (Medicare and Medicaid ), free food stamps, practically zero taxation, etc.
Europeans don't know anything about the U.S. Just biased nonsense you get from obsessively consuming our media and T.V.
@@WillieFungo You tell yourself that.
I've been watching your videos for nearly 3 years now, it's astonishing how much you have improved in this time
Really appreciate the long term support man!
"..this has not been without consequences; Europe has no big tech companies of their own" THIS IS A GOOD THING. THIS _ IS _ A _ GOOD _ THING. My god. It's frustrating people can't see this.
We need new yachts and more money. Lets fine Google a couple billion for something
Are you saying that the EU tries to slow down American big tech with taxes and lawsuits because they have no big tech themselves? That's a pretty stupid argument to be honest. It doesn't help the EU or anyone. If you look at what regulations the EU actually placed on big tech you would understand that it's all fair and like you mentioned in the video, placing high taxes just increases the product's cost that's economics 101 and European are well aware of that...
My word. I lived and worked in Germany for the better part of 10 years, and the salaries there are much lower than what is possible in the US, to say nothing of the high taxes there. And I think this is true of all of Europe. The people there don´t mind the high taxes because, they tell me, they get "benefits". Well, I'd rather get the cash and tend to my own "benefits", thank you very much!
Kinda wrong on the asia front, China didn't ban they tech, they forced them to work with local companies so they could benefit from it. EU won't end up like Japan mainly because Japan issue isn't stagnant technology, they are at the forefront of it alongside Korea and Taiwan. Japan issue is more domestic than it is an international problem like the EU. If anything the EU would probably be in a weird limbo of state in the future and we don't really know what will happen.
I feel like having only "medium sized" tech firms helps the corruption (aka lobbyists) be more focused on different sectors. E.g. how many car companies in europe haven't been prosecuted in the same way as these american companies? My guess would be that bigger tech companies would just shift the attention to other industries
Lobbying is illegal in Europe. If you see a company getting pampered, it's just straight up criminal corruption.
Can you do a video on the Chinese tech sector? It would be interesting to see companies like Alibaba, Baidu, Tencent, Hawei. Also the Chinese Silicon Valley of Shenzhen. You have been doing American, Japanese and European tech for a while now.
Thanks for the suggestion man!
@@LogicallyAnsweredthanks a lot man. Your videos are the most informative and entertaining on CZcams. No one else does the research like you do. Keep up the good work
The problem would be reliable information since most info about Chinese companies gets filtered by CCP.
Funny how you fail to mention student debt, quality of life and/or work-life balance in this comparation video. Also how an average American can go bankrupt for an ER visit even with health insurance. EU really belongs in a museum - of good old times, I guess
Actually Europe is very much in the game with big tech, we are just not so flashy about it, most of the machines that make big tech are developed and made in Europe. A lot of the science to create these products is also done in Europe or done by europeans. Its just not so in your face as US and China are :D
I would also note that has some small seed in IT tech currently . I mean Microsoft open some devs studios in Germany so far I know also in Germany a lot of chip factories are build or have been build + Tesla build a factory and then there is Bosch.
in the list of top ten biggest tech companies, usa has seven while germany has zero
the score is 7-0 in favor of usa
Once the world moves tiwards open source and privacy....the the technocracy may finally end.
Unrelated to video topic:
You are by far the most active uploader amongst all my subscribed channels.
I've more than once thought: This much quantity can only mean a lack in quality.
Yet, time and time again when I watch your videos you've proven me wrong on that.
Almost always you provide some non-obvious insight into the topics you present.
You have my respect.
PS: It's ok to take a rest sometimes 😅
Oh I get it monopolies good, free market bad.
Well, yes, they care. I think what America-Centric comentators often forget ist, that Europe would be the largest superpower, if the EU would act as one unified block - in almost every metric, exept the big-tech sector. So definatly not a market that any tech company would like to lose, even though it is a bit less attractive because of the fragmentation. But that is also a bit more complicated, since it is not really big tech against the EU, since it is a powerhouse when it comes to science, and a lot of tech that is crucial for these cooperations has been and is developed in Europe. The same for crucial tech and services which are needed within products. What the video portraits correct is, that it is systemic why there are many smaller companies that are highly speciallized, instead of many mega cooperations in Europe. And that this is higly related to a lot of other factors when it comes to the whole organization of the economy and society. And in my opinion, we definately need both sides, and they are dependent on each other, and every side / system has valuable and important aspects when it comes to drive humanity forward as a whole.
No doubt, that you need to be in the US, if you are an tech Entrepreneur that wants agressive growth with blitzsaling and VC money. As someone who worked a lot in tech, for the EU, and US, and also worked at a European VC / Incubator for digital ventures, I can testify that this is a difference not in percentages, but more in worlds :-D
And yes, the taxes are a real problem, but you have a huge verriaty inside Europe. From the highest one to almost zero income & capital gains tax, you just need to relocate inside Europe. E.g. I have been asked multiple times, if I would like to relocate to the US, working in the tech sector, politely declined for a lot of reasons, but one has been the high taxes in the US :-D And yes, tech workers are getting 25% / 50% less in Europe sounds about right. That said, it seems a lot of US companies still force their employees into the office. And if you compare the cost of living for US tech hot spots to Europe, you recognize, that the cost of living is double, or even tripple (and more, when it comes to San Francisco etc.) of the EU. So if you compare the cost of living, and what kinds of things are already included, which you would need to pay extra for in the US, it often evens out when it comes to practical.