HACKER Q&A
📣 djvdq

Do you think EU can catch up with US and China?


EU is lagging more and more behind US and China in terms of high-tech. Do you think they can catch up those two countries? If yes - what do you think have to be done to achieve that?

  👤 simonblack Accepted Answer ✓
Not since they lost the possibility of cheap energy inputs with the destruction of the Nordstream Pipelines.

All economic growth depends ultimately on energy. If that energy is too costly, you can't compete. If you can't compete you can't sell. If you have no money coming in, you can't progress. That way lies unavoidable decline and then decay.

👤 GianFabien
The answer is complex and multi-dimensional. Two random thoughts:

Don't play catch-up in a highly competitive space. Create novel, relatively uncontested areas to work on.

Overcome the comparatively risk averse investment environment. Both the US and China have lots of venture capitalists with substantial invested funds.