MEGA - I actually like the acronym just not the connotations.
From the strategy paper:
It aims to create a dynamic ecosystem where ... failure is seen as a necessary step to progress. The strategy will drive policy and regulatory changes across the EU, with the Commission leading by example.
Is this a good idea? There is always the risk of failure, but why make it a necessity?
I think what they're saying is that if your ecosystem doesn't have a lot of failure in it, it's not a startup ecosystem. 80-90% of startups fail, so if your system isn't okay with that, the startups are of necessity going to go somewhere else.
That should be the mindset.
However they speak of steps, and that the commission will lead by example. It doesn't feel right. Will the commission take risks and try various regulations to see what is successful?
They also think that the bottleneck is venture capital so that they create their own scaleup fund. That fund will be run by bureaucrats. There is no network of experienced businessmen who support their investment beyond financing.
Yet, the EU financial system remains predominantly bank-centred, with bank assets totalling 300% of EU GDP, compared to just 85% in the US.
This has 'we have startup at home' energy. Either the EU increases the number of billionaires or they train a new class of bureaucrats who are not risk averse but still loyal enough to manage billions of euros.
It is time for Europe to become a startup powerhouse. Our competitiveness and ultimately prosperity depend on it.
This is existential. It's not enough to copy some startup culture. The Commission cannot be in control but expect others to create the future of the economy.
In the USA, the billionaires are in control and they organize the future. The commission has to do much more. Maybe they should also take a look at China and its party.
If they want regular people to step up and do the founding without billionaires, they have to create much more infrastructure. All the things that the billionaires or the party provides, somebody else had to do that.
It's also short sighted to focus on research institutions for founders. Everybody should be enabled to bring a good idea to life, especially people with real life experiences.
Europe community on dbzer0. Intended to be a place to discuss European news, politics, or just general topics from a European perspective. Since this is on dbzer0 expect the community to lean more leftist-anarchist but a wide range of views are accepted here (within reason).
Rules:
1. No Bigotry or Hate Speech
Any forms of Homophobia, Transphobia, Queerphobia, Racism, or Ableism will be met with swift and harsh action and will not be tolerated here whatsoever. Bigots will be banned immediately on-sight. This includes apologia of it.
Trying to be politely or intellectually bigoted i.e. "Just asking questions" won't be tolerated.
2. No Zionism
Any forms of Zionism or Zionist rhetoric will not be tolerated here, this includes Zionist apologia, accusations of antisemitism towards anti-Zionists, or blatant denial or downplaying of the genocide towards Palestinians. Any attempt to uphold or prop up the IHRA definition of antisemitism, will be treated as Zionism.
Anyone engaging in Pro-Zionist sentiment or apologia will be actioned in accordance with its severity.
Note: Trying to find loopholes or whataboutery to see what is or isn't genocide denial or Zionism will be treated as a violation of this rule. Don't test us.
3. Stay Civil
Please maintain civil discourse in the community. Do not engage in arguments with others, name-calling, or insults. Note that calling out bigotry or Zionism is not considered an insult. In heated arguments users are encouraged to or even required to disengage failure to do so will result in mod action.
4. No Misinformation
Spreading of misinformation intentionally in this community is unacceptable and will not be tolerated. Spreading misinformation hurts the credibility of the community and can mislead people sometimes in dangerous ways. Users who intentionally post misinformation as articles, comment answers, or in attempt to win arguments will be actioned swiftly.
Note: This includes Russian and Chinese propaganda. Users with a history of such posting will be banned on sight.
5. No AI Content
Please do not post articles or content primarily created using generative AI. Generative AI content may contain misinformation or be lower quality and thus is discouraged. Posts and comments featuring it will be removed. However this community does not allow or tolerate Anti-AI trolling or hostility and users who engage in such behavior will be actioned for it, additionally Anti-AI trolling violates Rule 3 and often Rule 4 so it is generally unacceptable already.
Note: Rules 1 & 2 may be subject to preemptive mod action due to their severity, and they apply to a user's entire post history. Not just this community.