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Comment by armchairhacker | Hacker News Reader

Because of onerous regulations, the EU has much less startups. You may think that’s good, but I’m sure some missed-potential startups would’ve improved QOL. They at least would’ve increased the EU’s economy and internet control and decreased its dependence on the US.

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"Because of onerous regulations, the EU has much less startups". That old trope.

Is that also the reason Miami or St. Louis have less startups?

I have started companies in the UK. The process is about the same as in the USA. The problem in Europe is that there is a lot less VC capital. Just like in Miami. It had nothing to do with regulation.

I generally agree with you message but the UK isn’t the EU anymore, and starting a company in Germany, France is definitely more expensive and involved than in the UK or the US. Regulation also has a responsibility, but not in the way people on HN generally think. The EU single market is messy, lots of things haven’t actually been consolidated, you have to take in account all the differences between each member state regulations if you want to get access to the whole EU. And if not you’re limited to mostly one region. If the EU can complete the single market we should be in a way better position to compete.

I really hope we can see The 28th Regime[0] becomes reality soon, that would be such an improvement

[0]: https://www.europarl.europa.eu/thinktank/en/document/EPRS_BR...

And of course the reason that there is a lot VC capital in Europe has absolutely nothing to do with the fact that you'd be crazy to do a startup in e.g. Denmark (because doing so will likely be personally ruinous even in the unlikely case that you get some traction, due to unrealized gains tax) or to directly invest in one in e.g. Germany (where you'd be expected to physically sit through, on location, a few hours of a notary reading stuff out to you)? Do you actually have any idea how much additional legal risks, costs and time wasting bureaucracy are associated with even just forming a company in a typical EU country?

Miami, and Florida in general, have basically zero universities anyone has ever heard off, and still boast a higher number of unicorns per capita than Germany, despite the latter having at least one world-class technical university.

Europeans are aware of this but they do not want to engage in a race to the bottom. Socialism was a conscious political decision in response to the oligarchy.

It is incomprehensible to Americans but not everyone wants to be like them. It would actually be a capitulation.

The policies I mentioned (just as nepo-baby Mamdani's programs to abolish programs for gifted children) have, of course, precisely and deliberately the effect of cementing an existing parasitic elite and screwing over talented and hardworking people from a non-privileged background.

Which part of this do you fail to understand? Who do you think will be more inconvenienced by the removal of gifted programs, some intellectual mediocrity who goes to a $70'000/year private school anyway, or a smart child from a family with a yearly total income that's a fraction of that schooling cost? Who do you think is going to be more likely to find themselves financially ruined by being hit with enormous taxes on illiquid assets (such as equity in a pre-IPO startup they founded or where an early employee in) -- someone entirely self-made or your "oligarch"?

One reason there's less VC capital because they don't control the world reserve currency like the US does, so they can't just print money and export inflation. Thankfully the current US leadership is intent on resolving this discrepancy.

To be fair to us, the Euro is also a world reserve currency, alongside of course the US Dollar, the British Pound, the Japanese Yen, and the Chinese Renminbi. And the Euro is in fact the second largest in terms of external reserves, being only beat by the USD.

Of course, the USD has been for a while the largest one of these, but as you say, they're really trying to get away from that. And a currency falling in relevance isn't new, one can always ask the Pound about that.

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