Earlier quoted context omitted.
That’s mostly the US corporate union system (which of course you’d be using as a US company). European approaches like sectoral bargaining and codetermination don’t have these problems; a single company isn’t disadvantaged vs its competitors and the employees on the board are motivated to grow the company. Europe doesn’t have VCs and the culture doesn’t support failure like Silicon Valley, but that’s for different re…
> Europe doesn’t have VCs and the culture doesn’t support failure like Silicon Valley, but that’s for different reasons. No, it is the same effect I am describing but inter-national as opposed to inter-firm. Capital allocation is transnational.
You can't start a company there because all this social spending makes it super hard to get going. I think the US is heading this way too now, toward lots of big companies with fat required benefit packages the little guys can never match (even if they eventually go on to become huge).
I wish people who would being so starry-eyed about Europe. One of the 10 biggest companies in Italy is the post office. Lots of industrial power, that.