It's wasted money if they don't change their level of bureaucracy
That's why we need Elon to come to Europe and get rid of all those regulations and restrictions! We need a European DOGE!
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EU to mobilize 200B Euros to invest in AI
61–70 of 150 posts
Re: EU to mobilize 200B Euros to invest in AI
#62Of this, €20bn will be earmarked for AI gigafactories. This reminds me of Northvolts. https://www.bruegel.org/analysis/northvolts-struggles-cautio...
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Re: EU to mobilize 200B Euros to invest in AI
#63It's a good thing that EU leadership is finally waking up to the urgency of renewed competitiveness, but the greatest problems are not addressed or even mentioned: 1. Europe's most ambitious entrepreneurs leave for silicon valley because audacious ambition is heavily discouraged culturally. Europe has many talented engineers and many founders who aim for "reasonable" success, but that's really not sufficient. 2. Big…
> Europe's most ambitious entrepreneurs leave for silicon valley because audacious ambition is heavily discouraged culturally. Good. We've all seen Silicon Valley. We'll keep our Engineers, Scientists, and large inter-union projects and organisations like CERN. > Europe has many talented engineers and many founders who aim for "reasonable" success, but that's really not sufficient Not under a US metropolitan HCOL exi…
While I understand this sentiment, we do need to balance the short term and the long term. And in the long term, economic growth is compound growth.
Consider an example. Country 1 grows at 2.5% (like the US) Country 2 grows at 1.5% (like the EU)
What is the difference after 100 years?
The first country will have grown by 1200%. The second country by 440%.
The faster growing country is now almost 3x richer than the second country.
This is comparable to the difference between Romania and Austria currently.
As these growth effects compound, I believe that it will become hard to compete on quality of life long term.
Re: EU to mobilize 200B Euros to invest in AI
#64Earlier quoted context omitted.
I agree, I think they are trying to cargo-cult Silicon Valley ecosystem without realizing that it will never have a chance in European's clueless bureaucracy, massive social safety nets etc. It doesn't mean nothing can be built, but it won't ever be as effective and bleeding edge for various good and bad reasons and mere fraction of whatever goals aimed for. And defense spending is a must, how in 2025 they could NOT…
Didn't Cambridge-alumni and London based researcher Sir Demis Hassabis - who co-founded Google DeepMind btw - just win the Nobel Prize in Chemistry? Comparing the enterprise value of the top 10 companies in Europe versus the U.S provides a poor insight into the actual health of AI research as opposed to capital generation. Both DeepMind and Featurespace are European startups for example.
Nobody's arguing that the talent isn't there, but it's very hard to commercialize results compared to the US. Which is why a good chunk are employed in US companies or immigrate to the US.
Re: EU to mobilize 200B Euros to invest in AI
#65Earlier quoted context omitted.
I have seen (and worked in) a number of startups that did receive research grants including AI research in Germany. This notion of terrible European bureaucracy is exaggerated. It’s not worse than anywhere else in the world.
As a German, I have to disagree. The bureaucracy both of Germany and the EU is terrible. I have multiple friends who left Germany, and the bureaucracy played a significant role.
German bureaucracy is terrible but that is not the same as the topic here.
Re: EU to mobilize 200B Euros to invest in AI
#66Wonder what the returns would look like if they set aside 5% of that sum to fund things like Euro competitors to Shopify & Stripe.
Re: EU to mobilize 200B Euros to invest in AI
#67Earlier quoted context omitted.
why not? we’ll be throwing rainbow flags at Russians when they decide to invade?
More likely "reparations" - €500bn a year or we're coming to Berlin ! Genuinely - this is a one way bet for the Russians, smash up Estonia and extort the Germans, spend the money on more guns and then kill all the Poles. Coming to a continent near you soon!
UK and France(along with the US) have nukes, so it's a much different scenario than WW2.
Re: EU to mobilize 200B Euros to invest in AI
#68It's wasted money if they don't change their level of bureaucracy
I am European and I tend to agree. The way it's currently going, it'll self-select for people who are good at filling out forms, which will either be the giant companies that can afford to hire what are effectively tax-funded civil servants (they happen to be employed by companies, but only exist because of the government and are effectively a tax on business).
Or there'll be a common European subgenre of "startups" that exclusively draw funding from EU/govs because they're great at filling out forms and telling paper pushers what they want to hear. Then they ship some hypercompliant product nobody wants to use.
Re: EU to mobilize 200B Euros to invest in AI
#69It's wasted money if they don't change their level of bureaucracy
Indeed. The EU grants are ridiculously red tapey. Companies have entire departments dedicated to the red tape that European grants require, from the initial participation / auction with hundreds or thousands of pages of documentation, through various stages of thorough checkbox ticking, to the final reception of the project. Only the usual players with well established "EU Funds" departments can realistically get the…
I disagree, I did an EU subsidy request when I was 18, it was quite simple and well organized.
Re: EU to mobilize 200B Euros to invest in AI
#70Earlier quoted context omitted.
They can't invest 5% of GDP in defense because they don't have the money. Germany does not want to raise it's debt ceiling and France is basically broke and hasn't had a functioning government for the last 7 months. NATO has been treated as a free ride by Europe. They were supposed to invest a certain % of their GDP each year in their defense spending but because the US was always there as backstop, they basically ne…
The irony is that if we don't invest into defense, war would still likely break-out, but we may suffer less (or die less) because of a quick loss. Now we have a weak army in the EU, if Russia invades one of our friends, then the war will be over in two days because France, Germany, USA will do their usual "we condemn blablabla, we send you prayers and sympathy", but there would be no long-lasting war. A bit similar t…
If you think that with russians rolling over whole Europe the only thing changing is to whom you pay taxes that's a grave mistake on your understanding and borderline insulting to those of us like me who grew up under direct soviet cough cough russian oppression and have their parent's lives very effectively ruined by it.
Ever wondered why eastern part of EU is so vastly different to western EU regarding mentality? Why east has corruption as BAU at all levels, is a bit nihilistic in world view, and certainly doesn't trust at all some centralized Brussel control? It wasn't nearly as bad right after WWII. But we had it all from them, oppression, absolute lack of freedom on North Korea level, political executions, people gone to gulags or uranium mines with basically no ticket back for the horrible crimes of ie fighting nazis as allied pilots in Britain. The damage to whole nations is still felt these days, countries being shadows of their potential, natural resources literally stolen without any payment back (former Czechoslovakia's massive uranium deposits as a random example), especially if you compare them to places 'just across the fence' which experienced freedom, market economy and ie weren't forced to reject Marshall plan.
Russia has absolutely nothing good to offer to any democratic country which was true 100 years ago and is still the fact now, just a spiral downfall into mediocrity and further, rampart corruption and theft and rule of stronger compared to rule of law. Basically a mafia state, they just can't create anything better.