Earlier quoted context omitted.
Yeah, but local fabs in Europe are far, far away from Intel, TSMC and Samsung. Infineon, NXP and STM are wayy behind.
This is largely because Europe became infatuated with austerity and its industrial policy has suffered as a consequence. You want big, cutting-edge fabs? You’re going to need to spend public money getting them off the ground. TSMC’s success is in part due to Taiwan itself designating semiconductors as a key strategic economic interest years ago and making investments/tax breaks accordingly
It's tied into the culture, tbh, but you know, at least make it easier for someone to start, fail and start again.
Even forming a company is a major struggle compared to US, UK. Nevermind the insanity after a bankruptcy.
Sole proprietorship is still very common, and of course when you are in trouble with that, you are in trouble.