Comment by joe_mamba

> recruiting FAANG employees to Europe wouldn't generate European FAANGs

Yep, this. We already have enough local FANG level talent, talent is not the problem in Europe.

What we don't have is:

  1) the printing press of the world reserve currency so that VCs backed by our central bank can keep spending the fake money we print on tech gambles while the rest of world absorbs our inflation as if it were gold, and
  2) the world's biggest military to nudge (enforce) our products and services on the rest of the world to ensure our hegemony

Until you fix both these point, or at least point 2 and kick out the US military and companies from our continent, like China did, you can't have a domestic SV that challenges the one from the US no matter how much good talent you have.

And we can't do that since we can't even kick Russia's ass right now after 4 years, let alone stand up to the US hegemony and enforce our will over them, so we'll continue to be dependent on them.