alt Hacker NewsEurope generates ~20% of revenue for US big tech which is a large part of its stock market. With how precariously coupled US growth is to these companies, it absolutely needs that market.
Europe generates ~20% of revenue for US big tech which is a large part of its stock market. With how precariously coupled US growth is to these companies, it absolutely needs that market.
But can the Europe survive without the US big tech. Imagine the worst case US bans any sort of export from big tech to Europe, all startups and even every tech reliant company in EU would collapse without AWS, Azure or Google cloud. Also imagine ban on exports from Apple and Google, from tomorrow onwards both iPhones and Android phones stops working because software services are banned in EU.
It’s so easy to argue on putting tariff on US tech, but we forget how much Europeans depend on it and it would be like shooting one’s own foot.
One could argue that over the time EU can build their own infrastructure and alternative, but who is going to invest for it? The governments? With tax payers money? And who is going to build it? EU is one of the fastest aging continent in the world and what can they offer to attract young talent?