The European Commission on Tuesday set out a plan in a bid to take the lead in the metaverse - shared virtual worlds accessible through the internet - and to prevent Big Tech dominating a nascent sphere that could boost economic growth.
They bought up the small ones because they were failing. That industry requires huge economies of scale and the smaller ones couldn’t cope. EU created Airbus out of the scrap pieces of dying European aircraft manufacturers and injected capital into it and gave it a captive market. In metaverse they are starting to behave this way - currently Threads isn’t allowed to operate in Europe. They are going to create regulatory barriers around it. Allow European alternatives to grow - i.e. Mastodon, etc. And provide any kind of support - regulatory, capital, incentives, etc. European governments have used their might to create industry giants so that their countries remain relevant and that wealth creation and innovation remains rooted in their countries. It will be the same in this case.
Well that’s just IT. They don’t have a significant presence in the tech space and they are trying to create barriers to develop home grown companies. (To answer your question SAP and some anti-virus companies top of my head but there isn’t a lot.)
Creating barriers isn’t a great way to go about it. Protectionist efforts just get returned with tit for tat exchanges in the exact same way that has happened with aerospace.
Boeing didn’t want competition in the US domestic market. They thought they could squeeze out Bombardier, but weren’t expecting that to come around and have the A220 get sold to Airbus (who are now doing really well with the A220, since the A220 is legitimately a really nice plane).
They bought up the small ones because they were failing. That industry requires huge economies of scale and the smaller ones couldn’t cope. EU created Airbus out of the scrap pieces of dying European aircraft manufacturers and injected capital into it and gave it a captive market. In metaverse they are starting to behave this way - currently Threads isn’t allowed to operate in Europe. They are going to create regulatory barriers around it. Allow European alternatives to grow - i.e. Mastodon, etc. And provide any kind of support - regulatory, capital, incentives, etc. European governments have used their might to create industry giants so that their countries remain relevant and that wealth creation and innovation remains rooted in their countries. It will be the same in this case.
Unless they lose more court cases because their subsidies break WTO rules…
https://ustr.gov/about-us/policy-offices/press-office/press-releases/2019/october/us-wins-75-billion-award-airbus
What’s stopped EU tech companies previously? I can’t think of any European tech companies other than OnlyFans lol
Well that’s just IT. They don’t have a significant presence in the tech space and they are trying to create barriers to develop home grown companies. (To answer your question SAP and some anti-virus companies top of my head but there isn’t a lot.)
Creating barriers isn’t a great way to go about it. Protectionist efforts just get returned with tit for tat exchanges in the exact same way that has happened with aerospace.
Not for Canada. Bombardier couldn’t do shit as Boeing filed a case with the DOJ and bled Bombardier dry for… Well, no reason, really.
We still can’t do anything to Boeing or the US about it.
Bombardier sold to Airbus?
And the EU did do something about it, for 17 years
https://www.bbc.co.uk/news/business-54877337
Bombardier sold their commercial aviation industry (aka the CSeries). Now they’re only focused on private jets.
Which they sold to Airbus, which is why Boeing went for them I guess.
Boeing didn’t want competition in the US domestic market. They thought they could squeeze out Bombardier, but weren’t expecting that to come around and have the A220 get sold to Airbus (who are now doing really well with the A220, since the A220 is legitimately a really nice plane).