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How Europe lost its tech companies technology company

Where did all the tech companies go? Nokia, Philips, Alcatel and the others? (The Story Behind Ep. 24) [[[ TWITTER POLL ] …

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How Europe lost its tech companies

How Europe lost its tech companies

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How Europe lost its tech companies
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44 thoughts on “How Europe lost its tech companies technology company”

  1. I didn't know you were hungarian. I recently subscribed to your channel and I watching all your videos.

    As an European (Spaniard) working in tech I often think about this topic too. Even more now that I live in Shenzhen. A few years ago the situation was not that terrible for consumer electronics. As a reminder, when the iPhone came out in 2007 Nokia owned 60% of the mobile market. Nokia tried to compete against Apple and later Android with initiatives such as Maemo or Meego but they never truly bet on these platforms as most of their sales came from Symbian phones, which was a really old OS. Then later they put themselves in the hands of Microsoft which also failed dramatically. Another example, in 2000 Telefónica bought American Search Engine Lycos for 12 billion USD. At that time Google was 2 years old and probably a lot less cash. It's easy to look back and regret what if I had done this or that, but that's not my point. If Telefónica had bought Google probably it would have screw it up anyway. Unlike US there was no tradition of silicon and software tech in Europe, successful business like Nokia or Telefónica were managed but people who are no technical (and in the case of Telefónica at least this is still happening).
    Unlike China, Europe opened its market to foreign tech companies, instead of growing their own. Competition is good for consumers and definitely I prefer the luxury of Google to the shitty search engine of Telefónica. But leaving yourself completely to the hands of others have other cons: less innovation, less capital, less specialized jobs, a feeling of always lagging behind. Not to mention all the trickery these companies do to avoid paying taxes. Reaching that point one wonders, why the hell do we even allow this? Perhaps I don't need state of the art tech and good enough is ok if it gives me more autonomy and control.
    Anyway, I stop my rumble here. Good video as usual. The first step to change something is to look deep into oneself and understand what's going wrong. Then it's the desire to change. Your video makes really good points.

  2. Hmmm let's see about cyber security: AVAST & AVG Tech ( czech rep ) BitDefender ( romania ) Avira ( germany ) Dr Web & Kaspersky ( russia ) Panda (spain) Sophos (UK) ESET ( slovakia ) and there are many others … bigger doesn't mean better … the only way large corporations still survive is by eating little ones ( those who bring new disruptive technology ) … Big businesses can at times offer lower prices and better-serve large customers. However, bigger is not always better. Small businesses fill niches that their larger competitors often overlook and can serve customers more directly and with greater flexibility than their larger competitors. By the way RIMAC ( croatia ) is faster than any Tesla haha

  3. Well it began with Gemplus (now gemalto) the company who invented smartcard bought by a CIA pension fund who bring all the patents and the technology in by the US, first by moving the company into Luxembourg them with threatening of legal action the president of the company.

  4. I take vicarious enjoyment and pleasure watching the EU (once the colonial ruler of the world, and world ‘s power over 3rd World Countries and much of Asia) descend into a “has been power” celebrating what WAS and not what “COULD BE!” I wonder what the Europeans must be thinking and feeling as they see their former-enslaved colonies began to raise in economic power and technology and over take Europe??? It is sort of like watching Mohammed Ali at the height of his power to what he is now with Parkinson’s Disease unable to perform the daily functions of life.

  5. I am so very glad the rules, super high taxes, regulations, labor unions and labor laws are so very strict in the EU! The EU needs more laws and more socialism!!! This will give China and the USA the unstoppable competitive lead in IT and AI that cannot be caught up by the Europeans. As these people enjoy their 6 weeks paid vacations, drink there inferior wines (compared to the wines produced in California), take public transit (paid for by taxpayers), eat their cheeses, and march proudly into the 20th Century, China and the USA will foraging ahead into the 22nd Century. “When you can’t compete simply legislate and regulate” should be the motto of the EU. Bring on more regulations and “make my day!” Hooray for the EU!!!

  6. EU is a combination of selfish semi-xenophobic local national markets that try to outcompete other members. Instead of working jointly like the USA and China do, they prevent each other from advancing, and as a result, EU will lose this global competitive battle. As an example startups from new EU members have almost no chance to get VC capital located almost exclusively in 'old' EU member countries. This short-sighted selfish preventing cross-EU competition will cost them all dearly. An additional problem is blooming bureaucracy and discouraging entrepreneurship. We all will pay the price because with lowering standard comes political dependency too, which is already happening. Soon China, USA and Russia will be able to do to the dissonant EU countries whatever they want. Once master, the EU will become a servant, this is not hard to see coming. Hopefully, the downward spiral will not generate a new big war like it did in 20 century.

  7. The state is the enemy of the people in northern Europe and its fighting to replace the indigenous people. Why should we develop new technology for the evil state to oppress us when we prepare us for the coming civil war?

  8. Teufel is, by far, the Market Leader in Europe in Terms of Speakers and Home Cinema which is a germany company.

    But that, of course, doesn't change all the other points which are true, but i think the main reason is that european companies are pretty greedy.

    Germany especially. In general you have pay up to the tripple price for a Made in Germany Product compared to a Made in Japan product, even though there is no quality difference.

    And if german companies can't sell their products for the tripple price, it just isn't worth it. You have to get rich doing it, or it isn't worth it.

    Japanese CEOs of gigantic companies only have 1/35th of the salary (in average) of what an CEO of a german car companie does have.

    The CEO of Honda is considered poor and heavily underpayed compared to the CEO of BMW or Mercedes. And this doesn't end with the CEO, it is the case for pretty much everyone in the Management level.

    The Salary of the CFO of SIEMENS is 3,5 Million € and he is just one of many and not the one who gets the most. In comparison, the CEO (the only leader, not a board) of SIGMA in Japan earns roughly 200'000€

    German companies and especially business man are extremely greedy and the same is true for France, Switzerland, Finland and so on and this is why they fail. All their products are heavily overpriced but in the same time, only average quality cough Volkswagen cough Audi cough

    So the biggest and most prominent issue is, imho, that big european companies are, in the first place, try to get as rich and valuable as possible and only do what they need to do to archive this goal.

    If they can improve the world and do important things and make income with it, but not get rich with it, they don't do it.

  9. ASML has a monopoly on the machines that make microprocessors, they are a Dutch company. But the EU is tech-light, it seems to me they rely a lot on services, necessities like food, utilities, etc from EU based companies and tourism, as well as rebranding stuff from the outside. And cars.

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