The EU Will Be Fighting Foreign Tech With Money to Local Businesses in Tech

[IceDigger]

What would you do with 100 Billion Euros?

or… What wouldn’t you do?

The EU will be handing out 100 Billion Euros to local tech companies to further themselves in the hopes of competing with foreign tech giants like Google, Alibaba, Apple, etc…

“The emergence and leadership of private non-EU competitors, with unprecedented financial means, has the potential to obliterate the existing innovation dynamics and industrial position of EU industry in certain sectors,” – EU

This should be interesting.

Full Story

 

[Grimlakin]

Here's the problem they are absolutely correct.

Countries where it is legal for your employees to murder themselves in hours worked and stress make products everyone wants to use. I'm not shocked by this. It's the same reason America lead the way with the industrial revolution and manufacturing and such.

This too will change as has been proven through time over and over again.

 

[Riccochet]

The other problem is that no business wants to get to the size of Google or Microsoft in the EU. Taxes and regulations just don't make it worth it. The EU can throw all the money in the world at companies. That's not going to make them succeed. That's going to float them until they run out of money from being taxed to death, or they fold from not being able to afford enough employees to properly service their product.