Earlier quoted context omitted.
It is, at this point, an easily verifiable fact that software engineering jobs in Europe are en masse poorly paid relative to the equivalent positions in the US, and the majority of the EU companies that actually pay well are actually US based. This causes a lot of outflow of talent. That VC funding in Europe is atrocious is obvious to anyone who has had to go through it, and have fun letting a poor performer go from…
Are you saying that Europe can't compete with the US monopolies because all the good developers move to the US?
Why? Because it makes sense. Why stay in Berlin or Paris where you can make 50K to 70K euros a year at most and pay close to 40% or 50% in taxes when you can make double or triple that in the US or better yet, start your own company there and then expand in Europe after building it knowing that if you eventually sell it, you get to keep a lot of the sale price.
Talented people don't work for nothing. Motivated and ambitious people don't work for nothing.
If Europe wants to see it's own tech giants emerge, then it's needs to compensate founders and employees well. That's as simple as it is.
Unfortunately it's just not the case at the moment and until that changes, the most ambitious Europeans will continue leaving and building companies on the other side of the Atlantic.