EU's Tusk warns of risks in rise of U.S. tech giants

"The European Union has been in the forefront of efforts to tighten control on how social media companies handle the personal data of consumers"

Yeah, that's why.

EU officials are totally helping things with Article 13 and Co.

That is really total rubbish. How could 1-2 year old regulations go back 30+ years to stifle the European "tech scene"? By the way, there is other technology than that which is used to sell advertising on the internet.

I'm not sure why the comments here are unusually toxic, but I think it is good to hear this. The EU tech sector has an opportunity to create customer-first text services with a strong focus on privacy and data portability, but it'll need some concessions and some support. There's no reason why the EU cannot replicate at least some of the success the US has had in the tech market, and even internally it has a large enough market to give rise to some healthy entities.

Of course these might be actually sustainable businesses and not startups playing the unicorn game with VCs, trading at impossible sky-high valuations instead of what they're really worth and without a vision for profitability, so whatever metric you use to calculate success should definitely take that into account.