If EU doesn't have valuable companies and cannot produce valuable products how come that EU is not much different for living standarts than the US then? Is EU a petrostate? Where the money comes from if USA makes all the good stuff and EU none? From pumping out the Bulgarian crude or mining the Spanish rare earth metals?
The thing is, Europe missed out on the Software&Internet and the reality is, it is not the only tech or only high value product out there. However, software creates enormous monopolies, therefore when you do a top list USA has everything.
If you can look further than the toplists, Europe is doing strong on the long tail and that is how you got your 20T economy with no single unicorn in the charts.
Europe's biggest problem is its demographics - People are getting older and dying, not enough young people replace them. That's why it's percentage on the world economy is shrinking, it's not because Europeans can't code.
The thing is, Europe missed out on the Software&Internet and the reality is, it is not the only tech or only high value product out there. However, software creates enormous monopolies, therefore when you do a top list USA has everything.
If you can look further than the toplists, Europe is doing strong on the long tail and that is how you got your 20T economy with no single unicorn in the charts.
Europe's biggest problem is its demographics - People are getting older and dying, not enough young people replace them. That's why it's percentage on the world economy is shrinking, it's not because Europeans can't code.