The US has a monopoly on being able to go to market.
US corporations are extremely efficient getting funds, putting that capital to work, and deliver a product people want to buy.
Historically they got that advantage because (among other factors) their internal market is HUGE, and successful US products were also appealing in other countries.
As I said there are other factors as well (regulations, overseas taxation, and exports to name a few).
Its a winner takes all and the winners have been decided 20 years ago here in the west. You need something like what China did with a closed off garden where their own thousand flowers can bloom and grow strong enough to compete on the global market.
China has a huge internal economy. You won’t be able to replicate that in many a country. At all. You’ll end up with useless, expensive, outmoded products that seem to only ever get worse. (Speaking from personal experience.)
True but to have fall back option for US big tech is worth the "waste of" resources. Imaging if the US does to the EU what it did to Huawei the EU would break in 2 weeks.
Just like sovereignty is important the same counts in cyberspace, where being data sovereignty is as much if not more important in the future.
The EU has a similarly sized internal market, but it's consistently self-sabotaging on many levels (EU, countries, state, local) so does not realize a lot of the benefits it could get.
The differences in languages, culture, and legal aspects mean that at least for consumer-oriented startups EU is very much not a single market yet. There has been a lot of progress over the last decade or two, but when starting a company you still pretty much start with the market of a single country and have to do a bunch of work, adjustments and local hiring to expand to a neighboring EU country.
The US has a monopoly on being able to go to market.
US corporations are extremely efficient getting funds, putting that capital to work, and deliver a product people want to buy.
Historically they got that advantage because (among other factors) their internal market is HUGE, and successful US products were also appealing in other countries.
As I said there are other factors as well (regulations, overseas taxation, and exports to name a few).