alt Hacker NewsThe US has these issues as well as still has a strong tech sector, you also have to keep in mind a successful outcome for the EU won't be what the US has right now either. You get charts like this floating around the internet: https://postimg.cc/Yh8TPs8g
Nearly always presented as a 'dick swinging' look how great we are chart in a EU vs US vs China stand off. However it reveals flaws in the US as well. A successful tech sector in the EU will be lots of small bubbles where the combined area is somewhat approximates what is in the US and China.
A handful of giants is not desired here in the EU, you can see the issues this presents in the US as well, chiefly: it's distorting the political system to becoming like Russia. Oligarchy.
That's not even getting in to the chart is deeply flawed but that's not the point I'm making.
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>A handful of giants is not desired here in the EU
Then explain the giant Airbus. Or the giant VW. Or the giant Siemens. Or the giant Dassault. Or the giant ABB. Or the giant Stellantis. Or the giants Shell and Total. Or the giants BNP Paribas and Santander.
This whole "EU hates giants" trope being repeated on HN is just unfounded cope at EU's failure to scale and grow its newer domestic players to challenge the ones from the US and China, so they spin its weakness and failures as some form of benevolent virtue the EU is doing for the world by not building giant companies, when the truth is it just can't even though the EU would love to have US style giants as they bring in a lot of revenue along with geopolitical soft and hard power the EU is severely lacking ATM. If EU actually hated giants it would break up Airbus, Siemens, Dassault, Stellantis and others into smaller companies for more competition instead of supporting mergers that support its domestic monopolies.
> it's distorting the political system to becoming like Russia. Oligarchy.
It isn't. EU's own domestic giants are good enough at distorting EU politics without being FANG size. See VW political spending after Dieselgate. Or the political spending of the auto sector in general to shape regulations in their favor since they control so many jobs across EU's largest economies.
If you have a corrupt government that gives in to corporate interests, it's not the size of your companies that's the cause, it's the corruption of your elected leaders, since no company is above the government no matter how big it would get, as the government has the courts, police and military which no company can match, which is why companies always bend over to government requests
A Russia style oligarchy comes if the government gets too big, powerful and unaccountable, not from the size of corporations. Putin didn't attack Ukraine because corporate Russian lobbyist paid him to. In fact most Russian businesses, oligarchs and entrepreneurs got absolutely wrecked by Putin's idea to invade Ukraine, they never wanted this because they have more to lose from this.
It's the government that fucks shit up for the people, not the corporations. Big corporations just dance to the tune the government plays.
Yes, certain issues are found in the US, too, but doesn't mean they shouldn't perhaps be addressed.
Some things also might need scale at least in aggregate and either tech leads to some sort of Coasian singularity or having a lot of small things comes with additional transaction costs.