How Europe lost its tech companies

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TechAltar : Here is the poll I promised: https://twitter.com/TechAltar/status/937639966074687488

Kirry : Wait you're Hungarian, menő, csak menő

christianbro2 : If the regulation is to protect the customer against using its data with no consent, or to give some stability to the workers then I'm in favour of them.

Jakub Ušelík : It is good to point out, that it is true, that European countries lags behind in tech companies. On the other hand, +- quarter of all scientific research done globally is done in Europe. So low number of tech companies is balanced by quite high number of research institutions per capita.

edifier74 : By narrowing down tech by consumer products only is a disservice to the tech industry. Because a lot of tech companies cater to business & enterprise solution. Nokia & Ericsson are still major players in the telecommunication world they just don't sell consumer products anymore because the profit margins in enterprise solution is much higher.

Mr. A : Automobile industries are thriving though

Kp _rider : Irony is that Europe have unlimited Internet connection to end users, no data caps.

ktm640lc4BGD : If Bosch and Siemens would stop working everything would suffer around the globe. They have integrated waaay deeper into production than you know. Europe is producing software, hardware and materials needed to produce end-user product. For example in Switzerland a chemical is produced, which is used as one of the components in creating Coca Cola base syrup. It is shipped round the globe (i work in shipping). Things people do not ever think about in their life. Things that are one step "deeper". We do not have time to create end-user products so we let cheap labor do that. And we provide them with materials, machines and software. So do not worry about us. We are "back end" and others are "front end" developers. Also taxes and labor laws are strict but saying those are the reason for not having tech companies is stupid. Same laws and taxes are applied to absolutely all industries. So why do those exist? I do not know the real reason, but neither do you.

Lazy Sloth : ARM? An English founded and based company, their tech and architecture powers basically every damn smartphone out there including the Iphones and Galaxys along with thousands of other products from drones to cars. Even Intel tried to take them on in the mobile market and failed horribly.

Thytos : Also, Americans seem to have a more consumerist culture. I'm working at a tech start-up in Berlin and yet our focus is the US market as we're making most of our money there

Cain : Five words SOCIALISM AND LEFT LEANING PARTIES

Vecopotryx : That hair is "top notch" if you get what I mean :D

PrimiusLovin : Regulation, geography and demographics are perhaps the 2 biggest issues for the lack of competitiveness in Europe, although it's not fair to compare a fragmented continent, composed by several small countries, many different languages and local customs, who was the center of 2 world wars in the past 100 years, with 2 huge countries that work as one and have been stable for hundreds of years! But I still have hope that projects like the European Union will change this. otherwise I don't think it stands any chance in todays global world...

Gabriel Dos Santos : So, basically europe is losing the competition because they have laws that protect users and employees from abuse. What a time to live!

Daniel Ayon : Europe is doomed.

Ondawall Fly : Thank globalism for that.

Kay JB : I didn't know Alcatel is a French brand. Always thought it was some Chinese brand.

DOTCurrency : Europe is a tax and regulatory hellhole... Democrats dream come true.

likira111 : The portrayal of Europeans as technophobes is stereotypical and inaccurate, we just want privacy.

Zorrobeat : Europe is lost! Meanwhile we Germans are measuring our country by the number of added so called refugees. Americans also uncovered dizel scandale surprisingly simultanious while migrant crisis started. OPEN YOU EYES, this is a sinking ship!

FullFledged2010 : Nxp here in the netherlands still going strong💪

Arvid Olson : Now, Sweden does not have huge consumer-tech companies, but huge industry-tech companies! Lot’s of internet based or internal systems are handled or come from Sweden. Also, Spotify, Skype and Minecraft came from Sweden originally. Dice (game developer) is Swedish etc. We have loooot’s of tech, but mostly work behind the scenes

Alex DemiHuman : because mudslimes.

- Griggers - : I think that if the entire world adopted most of the European laws many people would be surprised how mush would disappear from the market. So mush of the import entering the EU is created under poor working conditions or with massive damage to the environment.

Tomek Samcik : Europe is irrelevant, somewhere on the outskirts of Asia

Југ Vratko : Europe sold out to the US, that is the problem. The EU was a gigantic mistake.

Rover Lenza : Send this to brussels...

Matija Tomic : Umm... Linux? Anyone?

Caldwell Transport Columbus, GA : European social benefits come primarily from the high taxation of productive members of society which limit efficient private sector reinvestment, and also that Europe has had minimal defense spending requirements due to the protection (and expense) from the US for decades.

Redtide : how many Europeans you know are willing to work on weekends and 12-14 hrs a day? not forgetting those strikes and summer holidays where some companies literally shuts down and disappeared from the earth for a month.

lullobiertje : https://www.asml.com

Mohamed Elsherif : You EU folks had my two software idols, Linus Torvalds and Anders Hejlsberg, I think these are enough contributions to the tech industry :') I think it just speaks to the high quality education you guys enjoy.

hongkongsmartboy : There are only three states dominating Market of Smartphone and Tablet in the World : USA, South Korea and China. It seems that tech companys from European states do not concern this market! Of couse, Europe is still the source of hi-tech parts of Smartphone and Tablet.

João Veludo : Plenty of tech in Europe. This video is bull crap. You're confusing tech with commodities/consumer electronics.

Xanhorn : Socialism doesn't lend itself to innovation. The large socialistic leanings in Europe tend to keep things stagnent which is why Europe is so good at older business like manufacturing and not so good at cutting edge business like tech. Think about it, why would you risk everything to start a new startup when the ultimate end will be the government coming in and taking 60% of your profits. Its much easier to find a manufacturing job and just settle for the benefits of 10 weeks of vacations and 30 hour work weeks.

Unknown Unknown : Very nice video! In my opinion Europe has no big tech corporation/startups because they value their own citisens and their right for privacy, while US is just a big pile of junk, occupied by unrestricted monopolies and oligarchs that can collect any info they want and sell it anywhere they want. Same is for China because it's officially an authoritarian state. I think European Comission needs to do something with this "US tech invasion" and make it harder for American companies to operate in Europe and in the same time create quotas for European companies who create consumer electronics, then the local market will emerge

Kamil Lenica : One more thing Siemens, Ericsson, Nokia NSN, Alcatel etc. Are doing well, but its is not in consumer electronics, but backbone for mobile operator, medical equipment, aviation, military, PLC systems etc. Europe shifted its business orientation towards building solutions and services for companies instead of end users

kevin campbell : Youre so off the mark that I cant believe you posted this. Mobile phone, tv and the other manufacturing industries you mentioned are years to decades old and at saturation level or in decline. Do you still watch DVDs? There is nowhere else to go with mobile phones or tvs that would warrant getting involved. Lets talk technology and the future of technology and see whats what. The future of technology and the big innovation right now is blockchai, smart contracts and all its applications. In this field America has been left in Europes dust and has laws that restrict and hurt its ability to compete. In Europe there start ups in every field from AI and finance to insurance and shipping. Blockchain is today what the internet was in the mid to late 1990s. However, this time Europe has recognised the power of blockchain and is, along with China, leading the way. Estonia alone is more of a blockchain powerhouse than the United States. Instead of looking at the past like mobile phones and television manufacturing or search engines and social media look to the future of the tech sector and tell me what you see.

Alexander Samuelsson : Just look at how two Swedish giants like Spotify and izettle decided to list themselves on american stock markets instead of the swedish stockmarket. Sweden as a country needs to make it more beneficial for companies to stay here. But then again, most times I believe Swedish politicians and Swedish people hate Sweden, looking at decisions like this, and mass immigration of to us absurd cultures makes one think so.

Minor Details : As mentioned in this video, there are numerous reasons why Europe is way behind in the consumer tech sector. I think there were a couple of reasons that were left out though. One example is Europe just isn't attractive. It doesn't attract talent because there's nothing that's appealing in Europe (a generalization, I know, but it's true, no matter how you try to twist it). Great place to holiday, but I wouldn't want to live/work there (regardless of the number of holidays and citizen protections). The US is the global hub of all things tech, and it is the dream and aspiration of every single European tech entrepreneur/start-up to relocate to the US. There are very few exceptions to this. I'd say another important reason that wasn't mentioned here (I know I won't get many upvotes for this) is geopolitics - Europe is, for all intent and purposes, a vassal states (or collection of vassal states). It pours way too much money and resources in to supporting NATO for an imaginary (i.e. manufactured) threat from the East.Being a NATO member state means an automatic 2% of GDP expenditure - mostly on US military hardware, software, and services. And with the new "European Army" just around the corner, this will likely jump up to 4%. The US attracts talent and successful tech companies because the US is awesome. Europe is, well, "just Europe". Nice place to visit, but too messed up and paranoid about its neighbor to make it appealing to young people. The weather also sucks there.

dykodesigns2yt : I think you've overlooked tech manufacturing: ASML. They are the market leader in chip waver manufaqturing machines and are a european company. All the chip giants use their machines and they haven't got much competitors. Also the Eindhoven/Veldhoven area in the netherlands where Philips originated and where ASML is located can be considered a kind of tech valley.

Amit Sengupta : ARM!

Marcin Ł. : What kills Europe is socialism. By some strange miracle, China probably produces everything, nevertheless, ordinary Chinese live on a low level, the average European still lives on a better level. The reason is debt. China agrees to sell for the Euro, which is the currency without coverage, because in Europe there is still a lot to buy. What will China do. They have already bought the port in Thessaloniki for 99 years. So in Europe you can get papers (money/euro) buy real equipment for conventional money, So you do not have to be tired and you can live well for debts. The problem is that these debts are state-owned, and that means future generations will have to pay debts made by their fathers. Hardly anyone wants to work or teach because for what I get debt and Chinese factories will produce goods. Problems will begin as China will say "no more"

just that guy : Because of tax

exorientelux : green ideology and animosity against technology is a nail in Europe's coffin

Christobanistan : Not sure why getting a slightly better (grade school, not higher) education is so great when you can't find jobs, or they're lower paying and less exciting.

Bennet Baars : Short Answer China

Techno Land : Can you make same one about technology future in India please I like your videos

Ansai Ricciardi : you forgot Yandex

Duftstab Kerze : Never heard of SAP, MP3, Airbus? All of it is German, Airbus mostly German-French. And what washing machine and dishwasher do you have? What car? What electronics inside the car? What machines are building the cars? WHat machines are building the machines that build the cars? Your are only looking on the small sector of consumer electronics, there is so much more than this.