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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
A speaker discusses Mario Draghi's report on EU competitiveness while walking outdoors. The video examines how the EU passed 13,000 legislations between 2019 and 2022 compared to 3,000 in the US, along with GDPR reducing small-medium tech companies' profits by over 15 percent. It also highlights Europe's lower productivity growth, demographic decline, and loss of unicorns.
Chapters
- 0:00
EU regulations vs. US innovation
The speaker introduces Mario Draghi's report on EU competitiveness, comparing the high number of EU regulations to the US and discussing its impact on small tech profits.
- 0:31
Demographic and productivity challenges in Europe
Draghi's findings highlight declining workforce numbers and lower productivity growth in Europe compared to the US, noting the loss of European unicorns.
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.
