Comment by exceptione

Comment by exceptione 4 days ago

> Yet it out innovates all of Europe, Canada, Australia, other places that have incredible social "safety nets".

Probability: highly unlikely.

Speaking for Europe, I see a lot of silent innovation. No press, no LinkedIn posts, not an article on their website. There are a lot of US firms that shop in Europe for high tech. (I know of instances were the US company buys the IP from the EU supplier + take public credit for it + forbids the supplier for showcasing their success in public.)

What is different is:

1) the amount of money available in the US. The US enjoyed a very beneficial position post-WOII, enabling them to run high deficits.

2) the US has a positive attitude to entrepreneurship. You are not a failure when your company goes bankrupt, you learn from it and you go-go-go.

enaaem 4 days ago

Also the EU lacks a unified capital market where infinite VC money can be pooled together into any new hype. I would argue this the biggest reason.

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userulluipeste 4 days ago

EU countries also have very high tax rates, which feels like the community is the primary beneficiary of your business, not you the entrepreneur. This alone severely reduces the financial incentive of starting a business. There's also some weird cultural stigma in the EU's more socialist countries (like France), where the system is way more comfortable for you as an employee rather than a risk taker. Let's call a spade a spade.

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- enaaem 4 days ago
  
  The way you say it, it sounds like the EU shouldn’t have any companies at all, but that is not true. In fact, the EU is very good at boring tech, which is the reason why the US is imposing high tariffs.
  
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jryle70 4 days ago

What is silent innovation? Do you think there are no silent innovation in the US?

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lanfeust6 4 days ago

Productivity is lacking in those other countries. That said, I don't think it has to do with safety net, which is not much different in the U.S.

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