Because having "big tech" is a sign that the government has completely failed to enforce anti-trust laws and allowed dangerous concentration of power to occur. It's a symptom of a disease not some desirable goal.
The EU doesn't need or want "big tech", it just needs "tech". It needs generous public funding for infrastructure, open source, and it should aim to build upon open standards whenever possible.
We don't need domestic monopolies that are just going to fuck us in the same way that US corporations fuck Americans while we all pretend to enjoy it for the sake of looking superior to the other camp.
> The EU doesn't need or want "big tech", it just needs "tech".
Why doesn't it already have "tech" and has to resort to governmental action to procure one? I mean, it is obviously very easy to acquire just "tech" without government completely failing to enforce laws and population being fucked by corporations, and it is a testament to how dumb Americans really are that they failed to do that. But Europeans are not dumb, so why they didn't do it by now? Why we are discussing the matter now instead of just pointing to clearly superior open-standard non-fucking European "just tech" as a superior alternative to American "big tech"?
Let's not forget Big tech is also fueled by the rest of the world and Europe.
If you walk into a bank in Europe and have some money to invest they will sell you mostly debt and the "Magnificent Seven" or a funds with those stocks inside.
The EU is ridiculous when it says it want to built an alternative because it's entire financial/banking system end up fueling the saving of its citizen into those companies.
This is also why we end up in that absurd situation where the Mag 7 make up 1/3 of the S&P 500 market cap.
If the EU is serious about offering an alternative (which I doubt) it needs to offer a sustainable path for its people to invest in it. Not do another fake program where insiders will grab some public money and get nowhere (it has been tried for 25 years).
> If the EU is serious about offering an alternative (which I doubt) it needs to offer a sustainable path for its people to invest in it.
Did US government do something like that? If US has some attractive investments and EU does not, why don't they? I mean, EU citizens would probably like to invest in EU companies, much better than in US companies, they are not some self-haters to refuse a good investment just because it's in EU, right? So why don't they invest there? Why do they invest in US instead and there is a need in a special action - not taken prior to now - to enable them to invest in the EU?
Because having "big tech" is a sign that the government has completely failed to enforce anti-trust laws and allowed dangerous concentration of power to occur. It's a symptom of a disease not some desirable goal.
The EU doesn't need or want "big tech", it just needs "tech". It needs generous public funding for infrastructure, open source, and it should aim to build upon open standards whenever possible.
We don't need domestic monopolies that are just going to fuck us in the same way that US corporations fuck Americans while we all pretend to enjoy it for the sake of looking superior to the other camp.