$PLTR cofounder @JTLonsdale on Europe’s lack of tech companies🔮 05:15 “it’s very easy to break the innovation economy. When I was at PayPal as a kid, there were multiple times when Spitzer here in NY almost took it out. He came very close to taking it out… if he had succeeded, we would not have Tesla, we would not have LinkedIn, we would not have YouTube, we would not have SpaceX…” “That’s what happened in the EU. In the EU, the regulators are just a little more powerful, just a little more obnoxious, and all the sudden, there’s dozens of companies that would’ve existed that don’t.”
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Replying to @jawwwn_ @BeckyQuick @JoeSquawk
The wealth and beauty destroyed - never created - thanks to left wing authoritarians is necessarily hidden and intangible, but it’s immense here in the US… and even larger in Europe.

Sep 19, 2024 · 2:33 PM UTC

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Replying to @JTLonsdale @BeckyQuick @JoeSquawk
It must be very disheartening for the hopeful tech entrepreneurs in Europe. We’ll never know if there could have been a European “PayPal Mafia” (although I do think that group is one of a kind). But either way, there’s a vast, uncountable amount of money and tech just left on the table. Sad to see.
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Replying to @JTLonsdale @jawwwn_ @BeckyQuick @JoeSquawk
What if things are finally changing in the right direction for Europe? I mean with Thierry Breton gone, Draghi’s report showing how bad things are, maybe there’s an inflection point.
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Replying to @JTLonsdale @jawwwn_ @BeckyQuick @JoeSquawk
The 2nd and 3rd order effects are devastating.
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Replying to @JTLonsdale @jawwwn_ @BeckyQuick @JoeSquawk
Spot on. I am living in Poland, which is one of the most dynamic parts of Europe, yet the country is deeply suffocated by the arbitrary rules set by regulators in Brussels. I believe there is a need for massive reforms within the EU as an institution, as change will likely come from nation-states rather than from the apparatchiks in Brussels.
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