European attempts to rein in Silicon Valley giants are not going away
, tax dodging, cultural imperialism, privacy violations and then some. This litany inevitably ends with a gripe that Europe needs to do much more to foster such companies at home.
Europe’s version of techlash often looks like sour grapes. With the possible exception of Spotify, no internet firm successful enough for regulators to worry about was founded there ., a German software-maker, is big but hails from the pre-internet era. Unicorns, worth $1bn-plus, remain as rare on the old continent as the term suggests they ought to be. Forget Euro-Facebook or Le Google.Still, much European tech-angst is universally shared.
Attempts to rein in Silicon Valley giants aren’t going away. France introduced its own version of the’s abortive levy. Olaf Scholz, the German finance minister, is preparing another campaign for a continental one. The surest sign of European intent vis-à-vis Silicon Valley is the promotion of Margrethe Vestager,’s tech-bashing competition chief, to a role overseeing tech policy as well. Her confirmation hearings for a second term on October 8th ought to be a breeze.
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