The Silicon Valley wasn’t built overnight. The software industry is just taking off in the EU. Mind you, nobody would have thought that the US would loose their leading role in the Middle East, look at them now. I can see the same happening in tech.
Problem is that EU is not comparable in any manner to the US. For one, where do you suggest the Silicon Valley of EU is? London would've been a decent bet except that they just bailed.
As someone else mentioned, capital is way harder to raise (meaning slower to market) - and then an underrated factor which is equally important is how easy or difficult is it to sell as a nascent startup. At least in my industry (cybersecurity) it has been very hard in the EU vs US in the earlier stages of product maturity.
Much like the parent comment, I don't see this changing anytime soon and I'm fully betting on the fact US will keep their dominance in tech.
Well, we shouldn’t just assume that Silicon Valley has to be a place. The lockdown showed that numerous companies can operate 100% remotely. And I got the impression that there’s always more money than startups.
Silicon Valley absolutely has to be a place and people will return to face-to-face social contact the minute that is possible. It is impossible to build long-term meaningful relationships on a 100% remote basis.
Wages are also strangely way, way worse in the EU. When you combine that with cost of living (and taxes) being far higher there, it's not a great recipe for growth.
