alt Hacker News> It's because the EU has largely fixated itself on reducing wealth inequality by punishing those who succeed.
It's actually because America pivoted[1] from manufacturing to higher-margin services (financial, tech[2]), and generations of American Diplomats had negotiated trade deals that ensure American services are never shut-out or hobbled in most countries. American companies won't look so special,or be nearly as profitable, once they lose their default status that allow them to siphon money from all over the globe -including Europe
1. https://americanbusinesshistory.org/2022-updated-largest-com...
2. Silicon valley caught lightning in a bottle. Other American locales repeatedly tried and failed to replicate it - so it rules out American legislative attitudes as the vital ingredient.
If you're familiar with American capital markets and global venture capital, you'd know that it had almost nothing to do with these trade deals. They had a marginal impact. The amount of capital available to startups and established companies at all stages of their development was the main difference. And the difference between the US and EU in that regard came mostly from the US simply not sabotaging itself the way the EU did with extremely high taxes on the top income earners, as part of an agenda to reduce wealth inequality.
The fact that the tech industry concentrated in Silicon Valley is simply due to network effects. Regardless of which locale became the Schelling point for U.S.-based technology companies, that locale would have succeeded, because of the national economic policy it operated inside of.