alt Hacker NewsI think there is a non-zero chance that Europe stumbled into an optimal scenario where they avoided all the losses incurred by US companies, but still benefit from the research. Having said that, doing so would require moving at the exact right time.
I wouldn't underestimate the capability of European companies to build rock-solid industries on established science. We may not be the pioneers wedging new product categories into the market, but there are millions of highly qualified people here, working hard every day.
For example, Mercedes autonomous driving team is moving ahead at glacial speed, but the system they have so far is excellent and reliable. I'd prefer that over the sad joke Tesla is promoting any day.