What the EU should really do is fine / tax monopolists like Google and Facebook into submission then invest that money into the EU-based startup ecosystem.
However, to respond to your snarky tone, does Germany have a monopoly on the world auto industry and use that to abuse the rights of citizens while squashing all competition? If so, absolutely, tax the hell out of them! My ‘99 VW Jetta was a piece of junk and I sold it at a major loss after a year.
(Edited to clarify 5G carrier equipment competition)
Right now, everything is going through Luxembourg and Ireland... perfectly legally!
> then invest that money into the EU-based startup ecosystem.
So bureaucrats deciding where money is going... How did that work out for the EU again?
every tool has its use, but protectionism is not the way to solve big tech's bad incentives.
Coddling them with a protected domestic market. Protecting one company means harming others who depend upon their type of outputs. This in turn harms their competiveness and can lead to domestic demand declining.
Effectively imposing a tarrif is like sanctioning yourself - If protectionism was helpful shouldn't they be at least a player in the Caribbean and South and Central American markets? Cuba had its own domestic auto market for decades from sanctions and the only people to benefit were mechanics as they had to play automobile reanimator to actively used vehicles that have grown older than the oldest member of their workforce.
can't the govt simply ban google and fund these 'different solutions'.
Because Big State is worse than Big Tech.