Or maybe the issue is this whole notion of "tech" as a top-down thing where companies impose products on idiots? Maybe another Silicon Valley is precisely the opposite of what we need.
Maybe solutions would look more like - how can Europe end the exploitation of the (mostly American, sure) big tech companies dominating them, while simultaneously encouraging the growth of user-first tools.
Interoperability laws would be a good start, as Cory Doctorow has been insisting. NLnet and initiatives like it are a good step in this direction too, pump money into projects who want to upend these relations.
These movements will have a hard time really going far if the big tech companies' relationships with governments in European countries isn't addressed politically. Therein lies the real thorny issue, I think.