Comment by bix6
5 days ago
Elon and Trump have effectively destroyed America’s soft power which was probably the goal because somehow that makes them richer who knows. Either way the world is no longer going to trust US companies. Europes VC scene is comparatively weak but if I were European I would be investing heavily right now as the local demand for homegrown services will surely skyrocket. This was a huge mistake for American Businesses as the European market will be significantly more difficult to earn now.
There's a rule of thumb that a mature tech business in the US will earn at least half of its revenue outside the US. If that stops being true, it halves the early stage value of tech companies in the US.
Something something Anthropic IPO already down 25% of original expected value, and still a fair bit of volatile water (cough midterms cough) to go under the bridge before it goes ahead.
If trump's goal was to destroy American prosperity and global power he couldn't behave much differently than he has been. Shameful many Americans don't see that, it is plain as day.
I'm thinking America (and Europe) was buying soft power at a price it could not sustainably afford. A correction was necessary. Trump took it too far though.