EU doesn't have top down control, in fact EU has very little control over anything and that's why its ineffective in its current form despite having enormous wealth as a block. All these initiative this initiative that are, IMHO, just political FOMO and I don't expect them to amount to much.

EU doesn't have the capacity to plan stuff, even under grave danger from the war in Ukraine EU barely coordinates building some bombs. EU is able to bite only when each country is coordinated well enough to implement some laws, i.e. GDPR thing bites through the regulators of each country and not through EU. If EU eventually becomes a state then thing can change but thats not the case at the moment.

EU is not a communist state and doesn't have a top down planning, its a coordination centre for 27 free market countries and its up to the EU capitalist and engineers to come up with technology and investment. They actually do, that's why EU is huge exporter of stuff. Believe it or not, there's more in this world than coding, there are all kinds of engineers that deal with atoms and electricity. However the "tech" doesn't flourish in Europe because doesn't make economic sense. US has full access to EU markets, they already have the know how and capital concentration, so why bother to re-invent the wheel in EU? Just go do it in US or do work for the US companies cementing their position even further.

US can afford not to have much regulations over the "tech" because they have the HQs and all the important people in SV. The moment some company that's not from US becomes big they take it down. TikTok for example, they forced a sale to fking Oracle, US doesn't allow foreign communications on its land. Its a semi-open knowledge that US government is working with those "tech" companies to control its own population and interests.

I don't know, if the US way of doing this is the better one, maybe EU should just force all the US "tech" companies to sell to EU owners just like with TikTok. Then get rid of all these regulations and just summon the local people when things go bad, like the "wrong" ideas spread like the way it happened on TikTik with Israel-Palestine conflict. The US way is like, oh you are not cooperating and not pushing the right agenda? Oh that's fine but too bad the new employment rules will hurt you and you can forget about this datacenter permit thing.