Comment by Cumpiler69
19 days ago
>Because Europe does not have enough money.
They seem to have enough to send overseas and to spend on illegal economic migrants.
>Private sector often does not fund projects like these as they have bad return on investment.
Then why does the private sector in the US fund projects like these?
Because America has the best private capital and startup ecosystem in the world it has a good chance of picking the big winners. There is no corresponding European ecosystem, only a bunch of small national ones. In fact, European investors are not betting on EU startups because they are unlikely to be able to scale to beat US and Chinese competitors due to lack of market and capital market scale.
Europe has lower cost of living and lower wages so EU Investors don't need US levels of money to compete.
Developers are cheaper but not a lot, and regulatory costs are higher - the difference in the end in not huge. Plus: if you want to win a global market you need global talent at global wages. You need a lot of private capital and Europe does not have any.
3 replies →
> They seem to have enough to send overseas
If you mean the NDICI stuff, that's hardly 'sending money overseas', and it's a fairly tiny fraction of spending.
> and to spend on illegal economic migrants.
... What are you talking about here? What portion of the EU budget is spent on that? What activity specifically?
In the real world, most EU spending is on regional development, agricultural stuff, and operating the EU (civil service, enforcement bodies, etc etc). The EU is not a country and has only a very small budget (about 170bn/year).