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The EU wants to set the rules for the world of technology

Great read via The Economist

“Europe is both gnome and giant in the tech world. The continent has lots of cutting-edge technology but hardly any significant digital platforms. It accounts for less than 4% of the market capitalisation of the world’s 70 largest platforms (America boasts 73% and China 18%). At the same time, the EU is a huge market, with a population of more than 500m, which no tech titan can ignore. It contributes about a quarter of the revenues of Facebook and Google.”

Read more via The Economist

How to avoid protectionism?

“If the EU’s digital plans became restrictive policy driven by protectionism, that would limit Europe’s ability to set global rules which could help to give its firms a much-needed leg up. It would also make it much harder for the EU to establish what the digital world will badly need, should regulation of tech remain stalled in America even after the presidential election. At risk is Europe’s role as a third “techno-sphere”—one that is not controlled by a handful of tech titans, as it is in America, or by the Chinese state”

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