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US creates it, China copies it, Europe regulates it #europe
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US creates it, China copies it, Europe regulates it #europe
Oct 10, 2024 · 1:00
The video discusses the findings of the EU competitiveness report by Mario Draghi while the host walks through city streets. It examines economic challenges facing Europe, highlighting demographic decline, excessive legislation compared to the US, and tech companies leaving. Screen captures of the report, press conference footage, and statistical charts illustrate the regulatory issues affecting European productivity.
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- 0:00
EU competitiveness and regulatory challenges
The host discusses the EU competitiveness report by Mario Draghi, highlighting excessive regulation, demographic decline, and the exodus of tech companies to the US.
Transcript
- 0:00
There's a catchy saying: US creates it, China copies it, and EU regulates it. And it's now truer than ever with AI. Based on really quite honest take in the latest EU competitiveness report by Mario Draghi, in between 2019 and 2022, EU produced more than 13,000 pieces of legislation. In the same time, US produced 3,000. And if you look at the effects specifically on tech, the report found out that GDPR handicapped EU businesses have reduced the profits for small tech companies by more than 15%.
- 0:31
It also noted that by 2040, EU will see more than 2 million workers leave the workforce every single year. And if the productivity is kept at pace, we'll only be able to keep the GDP at that level until 2050. We're not just losing people, but also companies and innovation. Since 2008, 30% of European unicorns have left, and most of them going to the US. It's time to flip the script, to make sure that the next big thing will not be regulated out of existence, but will be nurtured into reality.
