Calviño is the wrong choice to lead this. Why not tap a few people from Mistral if they care about AI? Spotify if they care about more generic tech?
Funding will not fix the fact that euro salaries are not even remotely competitive especially after tax. Maybe it’s better to be poor in europe than America but MLEs at large AI labs and bigtech SWEs are definitively not.
Plus, capital is somehow still more risk-averse in the EU despite the ECB's policy rate consistently running >200bps lower than fed funds. And of course the process of getting funds from the EIB remains agonizing even with this change.
Funding will not fix the fact that euro salaries are not even remotely competitive especially after tax. Maybe it’s better to be poor in europe than America but MLEs at large AI labs and bigtech SWEs are definitively not.
Plus, capital is somehow still more risk-averse in the EU despite the ECB's policy rate consistently running >200bps lower than fed funds. And of course the process of getting funds from the EIB remains agonizing even with this change.