Europe's Largest Brain Drain and Lost Startups

What: A video about how Europe experiences brain drain through lost companies and people.
Why: There can be large tangents about the value of the company climate generally, but it's important to understand what things are taken away by the country across the ocean.
How: We use primary and secondary sources to insulate an argument about stolen human capital, and this video is by no means unbiased.
Sources:
The sources for the video can be found here:
www.romuluseurope.eu
About us:
We are a team of Europeans trying to create European media.
Feedback is extremely useful, and it's incredibly important to understand that we are by no means the arbiters of truth: we can be wrong, and we will be wrong.
Also, there is a large difference between fake narratives and fake facts. Although we will try to stay as close to the truth in presenting objective facts (i.e there are 27 EU commissioners not 10), it is much more difficult to stay close to the truth when it comes to important narratives.
What the team decides is 'news' can shift the attention to a certain set of facts that may be true but may not be as important for other people, and this is where bias can easily come to fruition.
We ask the viewers to be aware of our bias and realize that, just like them, we are an imperfect team pushed by our own moral convictions and beliefs.
Music:
Title: Blue Wednesday, tender spring - Exhale
Artist: Blue Wednesday
Link: chillhop.bandcamp.com/track/e...

[@hoogyoutube]

Two points. One, the claim that UIpath was one of the fastest growing companies was in 2020 - not 2021. And two, Ion Soica is actually Ion Stoica, but it doesn't come out clearly in the audio.

[@LivingDead53]

We fund a lot of people who are going to fail, and they are my fellow Americans, not to be as dark as my brain. They give people loans galore and let debt pile up for nonsensical reasons. It hurts us, so you don't see the whole playbook that's ruining everyone. Then it's my fault again. Who is worthy? The new gods? Are you a planet or a satellite? I don't want to bark at Mars, but I made over 100% in Astronomy. I like reading and writing, and I take a class or two at a time. I'm "special." How much do I have to degrade myself here? It's the only integrity I have left.

[@NoName-sn3db]

The reason of problem is European Union is bureaucratic shit what disturb making business in Europe. For example Switzerland is independent and don't join to this shit what EU is and have the most Resident patent applications per million population in entire Europe and is on third place in the world even far forward the US. Luckily Switzerland never go into European Union and € never go into Switzerland to replace national currency.

[@danielmasri315]

Absolutely love the dark aesthetic of the videos - Ultra Simple and Concise - Although we must acknowledge that that there is a direct correlation between Quality of Coloured Videos {1st: MelodySheep 2: In a Nutshell 3: RealEngineering}, and the traction they get on KZbin. Sticking with the dark aesthetic may prove to be the Odd-Ball of successful new channels, but Romulus would need to find the perfect balance between being light on the eyes, yet stimulating - and concise yet full of useful information. Looking forward to seeing your channel explode!

[@tqrules01]

less taxes, more lenient contracts, You can fire everyone with no severance.. try that in France for example. So the laws that protect the general public makes it very hard for startups to honestly succeed. In silicon valley you can get huge capital with bogus idea's I.E Theranos, Hyperloop One, well take a look at thunderfoots channel and you get what I mean. So investment is easier to get in America by a million degree's and you can pump and dump since its legal in the U.S to do so, if it does fail. Another example is that some company structures are also flat out banned in the ECC like MLM's while they are perfectly legal in the U.S

[@georgec8451]

it's almost like european business climate is god awful and people cannot expect to do well with their business even with the best business ideas.

[@KingUnKaged]

It's funny, it sounds like in the EU this is considered a hot topic, in Canada we're all just kinda resigned to it. When an actor gets famous, when a startup gets founded, when something gets invented, there are already people taking bets on how soon they'll head off to the US, never to be seen again.

[@theactivecoconut6077]

Tbh Canada is kinda shit for tech workers too. We get the same workaholic American corporate culture and poor job security, but European salaries. In Europe or even Australia you don't get paid as much as the US but the work life balance and other benefits is where the missing salary goes to. Canada is like the worst of both worlds.

[@stephenchapel2058]

Yah, but we still think of you as family and Europeans as “foreigners”.

[@kakalimukherjee3297]

It's the same in India, but much worse. Europe and Canada can afford to lose capital, but we're broke af, so we cannot, and we're suffering as a result. I'm studying CS at the university and truth be told, it's difficult to resist immigrating to the US. But anyway I'll try not to.

[@defintity_9951]

Well I’m Canadian and I feel the exact same way. It’s just that if you want to innovate or try something new, the government bureaucracies and regulation ruins it.

[@epicmatter3512]

@@kakalimukherjee3297 Immigrating to America is for the purpose of giving you and your family a better life. Don't feel like you cannot immigrate to the US because of what anyone says. As an American, I can say everybody will welcome you happily.

[@giedrius2149]

German StartUp here. I'm so f* tired with the bureaucracy here. The hoops I have to go through, the time it takes for some institutions to answer or process something is ridiculous

[@thesubstitute7755]

Mexican starup here. Good luck!

[@Johnny11Walker]

I am German and created a computer-science company in a day. The bureaucracy was pretty much non-exictent. Which sector are you in?

[@cakeisyummy5755]

@@Johnny11Walker Probably Healthcare.

[@Johnny11Walker]

@@cakeisyummy5755 Yes, some systems in the german gov also seem to need an Update. The old Merkel Gov was fine, but skipped all risks of changing old structures, hopefully this will change. Unfortunatly, politics is dominated by crisis lately, so reforms might stale...

[@cakeisyummy5755]

@@Johnny11Walker Wasn't a Coalition formed after only 2.5 Months?

[@drannkkis]

It isn't only about venture capital. Despite EU has single market, for new company rollout product/service for whole block is unreasonably hard, each country have specific regulations and laws, about tax systems I wouldn't start talk at all... It is just normal to go to bigger market and scale without extra costs.

[@hoogyoutube]

You're completely right. The fragmentation of European countries plays a major role, and we didn't even address language. That was kind of intentional on our part though. I think most people intuitively understand the Europe is divided by significantly harder borders than a country like the U.S, but our intention was more to focus on things that can be easily seen as measurably different whereas language and divided political systems are a bit more difficult to analyze. At the end of the day, we want to focus on European unity, and it is much easier for Europeans collectively to get frustrated at the different acquisition rates than simply a market that is more difficult to navigate - if that makes sense.

[@jqhoogland]

It can be pretty tough to expand in the US too. You have to foreign qualify in all the states you want to do business in. That ends up being a few thousand in initial fees + a few hundred more to register an agent in those states + all the paperwork to do taxes in 50 separate states. Not impossible but definitely annoying for very early stage companies.

[@nietjona]

The european block is not more divisive than state to state laws in the US. Especially considering the millions of grants and initiatives to start eurozone wide companies.

[@spaceowl5957]

@@jqhoogland US has different tax regulations even WITHIN states afaik so It's really not much easier

[@rock4cheese]

As long as the EU is not a federation, like states in the US, EU countries will keep competing with each other, making startups more difficult to succeed.

[@axelfriberg3792]

Just want to say I’m really enjoying this channel already. Nice graphics, well researched, pleasant narration. Keep up the good work!

[@richarddzurek6147]

Have you researched the sources? Are the citations proven anyhow ? I agree great video, but take everything with grain of salt .

[@vincentboon2380]

@@richarddzurek6147 Check the description...

[@HarshRajAlwaysfree]

"Europe experiences largest brain drain in the world" India: those are rookie numbers

[@cakeisyummy5755]

The Balkans:

[@dumpit3583]

@rho CEOs don’t matter. It’s about who founded the compan.

[@sebastianbocanegra7420]

South America: we want to develop a strong middle class but they end up in Europe lol.

[@theillyri8339]

@@cakeisyummy5755 Albanians be like: if 80% of your population hasn't emigrated are you even Balkans ?

[@lostlegend9015]

@@dumpit3583 It's still the same situation. Infact, there were more Indian origin started unicorn companies in US than there were start-ups in India itself.

[@blainegabbertgabonemhofgoa6602]

I think one thing left out is that Venture Capitalist are different in the us and Europe. American VCs much less risk averse than European VCs. In Silicon Valley, chances are you will be able to raise some money for your startup no matter how outlandish your idea is. You could probably pitch some teleportation device or lightsaber to VCs in Silicon Valley and find at least one willing to fund you. European VCs tend to more conservative and more willing to fund proven businesses models or replicas of American startups that have been successful. Another thing is the agglomeration effect of having all people interested in tech, entrepreneurship, and venture capital in one area like Silicon Valley, whereas in Europe there is no real equivalent and the tech scene is more fragmented.

[@Espiritu_de_Obiwon]

I agree, there really should be a bigger push from European nations, and well the EU, to modernize the economy.

[@Mkoivuka]

Basically every European VC goes: "wHeRe aRe tHe sAlEs?!" It's borderline incompetence. The value destruction these VCs have done for the EU is probably in the trillions for the last 30 years.

[@CescProds]

Very interesting, where would you say Europe should develop its Silicon Valley?

[@blainegabbertgabonemhofgoa6602]

@@CescProds For Europe I’d say London is clearly the best option. For the EU I don’t know, it’s not very clear.

[@rronaldreagan]

@@Espiritu_de_Obiwon this video is forgetting to say why european vc are so cnservative in theor investments...and its because in europe you pay more than half your earned money in taxes that you never get to benefit from...thus people are less capable to risk the little scraps the state allows you to conserve

[@TheAlanFFM]

This might not seem like a very good answer, but perhaps it will help. I'm a transplanted Canadian living in Israel, a country known for its startups. One thing that struck me as very interesting was that many Israeli startups that make exits leave clauses in their contracts that force new parent companies or the acquiring company to keep all their offices in Israel. It's a type of patriotism I think a lot of other people don't consider. Wix and Waze are two major examples that come to mind. They were purchased by super-corporations for millions, but could of been purchased for more. the CEO's/leadership were willing to sell their companies for slightly less in order to guarantee that operations stayed in Israel and that their employees would continue to find employment in the coming decade. My point is that culture plays a large role in the brain drain phenomena. If you genuinely want to see your country or society succeed then you have to be willing to lose some % of your own profit in order to assure that the company remains safe. It's not a radical idea, but I feel like people often forget about it.

[@Siebentod-rp4dk]

i absolutely agree.

[@dave_sic1365]

Patriotism is very frowned upon in the EU especially in Germany

[@TheAlanFFM]

@@dave_sic1365 I think for understandable reasons... I guess my advice is to remember that nationalism and patriotism are not the same things. Without German literature and culture there would be no Europe... That's not a justification for WWII, but it's something to perhaps try and aim to preserve by maintaining some kind of coherent sense of patriotism. Again, I'm just some Canadian dude from Quebec. The things I don't know about Europe outnumber the things I do know by a ratio of 100000:1.

[@forloop7713]

That's cool

[@TheAlanFFM]

@Boberu Japan and Korea are, off the top of my head, praised for their nationalism 🤔

[@ashtons.2483]

This is kinda interesting to see from an American perspective. It's actually an issue within the US too, with an internal brain drain from state to state. It'll be interesting to see what the EU does to try to foster the growth of startups that are usually run by people that are quite willing to migrate.

[@sotch2271]

Yeah the coast is taking the best from inland

[@blainegabbertgabonemhofgoa6602]

@@sotch2271 I think it’s good for the economy that people are more willing to move to new areas that are booming. People in Europe are less likely to move to different areas and some Europeans might even be living in same homes their ancestors lived in for 100s of years and therefore might be more reluctant to relocate whereas Americans are much more likely to pack up and relocate to a new area for better opportunities

[@Bluesonofman]

@@blainegabbertgabonemhofgoa6602 We need to redraw states at this point. The US is spiraling tords Civil War as the uneducated and uninformed in Cities dominate the politics of entire states along with a Uniparty in government willing to do anything to usurp the will of the people, going so far as to label confused old people who just walked through open doors as terrorists.

[@blainegabbertgabonemhofgoa6602]

@@Bluesonofman As long as we have a 2 party system, things will be the same no matter how you draw the states.

[@Bluesonofman]

@@blainegabbertgabonemhofgoa6602 We have a one party system

[@irenejohannessen4439]

As a Norwegian working in Silicon Valley, I've realized that Europeans and Americans have a very different mindset. While Europeans ask why, Americans ask why not. Edit: So this comment blew up recently so I would like to answer some common questions: 1) If you have a good job, healthcare is actually pretty great. Considering the money I make, it's honestly a bargain for the high quality of service I receive. So no, I don't have to worry about ambulances since it's obviously covered. Lmao. 2) Rent is expensive, but it's not that high when you adjust it to salary. I still annually save around 100k USD a year after expenses (and I'm not super frugal either) 3) The best value of living in the Valley (and any tech hub in the US) is networking. Some of my ex-collegues founded their own startups and raised millions of dollars. 4) I do miss Europe, but I feel like comparing it to the US doesn't make sense. It's apples to oranges. One isn't better than the other. It all comes down to what's important to you. It really saddens me seeing Europeans and Americans fighting online when in real life we usually work together.

[@hoogyoutube]

Yeah, the cultural differences are definitely there, but culture is a hard thing to really grab on to as a primary explanation. And it also a bit of a chicken and egg problem. Was it a specific culture that gave rise to an innovative business climate, or was it an innovative business climate (determined by a lot of factors like the size of the market) that inevitably gave rise to a specific culture? There's a lot of material written on this, but nonetheless it's difficult to draw a very strict conclusion.

[@irenejohannessen4439]

@@hoogyoutube Hmm, I think it's because the US is a new world country that attracts a lot of ambitious immigrants. More than half of CEOs and founders of the largest companies in the US are first-gen immigrants. In my experience, 80-90% of people in the Bay Area were not born here. I'm not saying it's the biggest factor, but it's still an important one. I also feel less of a stranger in the Valley than London or Berlin. Nobody really is a "local", so fitting in is a lot easier.

[@hoogyoutube]

@@irenejohannessen4439 This is a real thing that I have personal experiences with. Even patents in the United States are disproportionately made by foreign immigrants, which is quite telling in my view. By the way, if you have a personal story that you would like to share about your experience as a European in the U.S (and how it can teach us something about Europe generally) we would love it if you could write something about it for our website. It would be very, very helpful. If you're interested please send an email to [e-mail] so that we can get in contact with you.

[@irenejohannessen4439]

@@hoogyoutube May I suggest this video? kzbin.info/www/bejne/bqKQXqilod1kebs (Why so many CEOs are immigrants).

[@CezarXanatos]

While Europeans ask why, Americans ask why not - This is gold right here

[@datrubz6459]

I think this is pretty standard for History tbh. Andrew Carnegie was from Scotland, and the founder of Bank of America was from Italy (and ironically it was originally called Bank of Italy, even tho it was founded in San Francisco, California). Just to make a couple examples

[@herbertant4096]

I mean United States just pretty much land of free trade and immigration, remember after 1812 the Europeans coping the US and calling it a failed nation 50 years after they immigrate to United States and just after 1870, USA dethrone UK and China as thr largest economy

[@beepboopbeepp]

@@herbertant4096 europeans calling a european founded country a failed nation? Sounds like europe would just be criticizing themselves then lmao

[@herbertant4096]

@@beepboopbeepp hmm don't you understand US was a former colony which europeans hate if their colonies revolt against them

[@breazfreind402]

@@herbertant4096 No what rubbish are you spewing? nonsensical. US was a former colony of the UK ,and through the rebellion, they were backed by .... the EUROPEAN COUNTRIES . Europeans absolutely did not hate the americans but actually endorsed and back them up in the midst of a revolution through financing and supplying them with goods and weapons. It seems like you're the one who doesn't understand

[@herbertant4096]

@@breazfreind402 modern day US was a former colony of UK, France, Spain and Netherland

[@illuminati3417]

As a Romanian working in IT and thinking about emigrating to the US I understand what people go through, I think we have a lot of potential with Startups, but unfortunately a lot of us leave our country because for better living standards, it always fascinates me how easy it is to get funding in the US, because here almost nothing goes into R&D and although I make more than most of the people from my neighborhood AS AN INTERN (the minimum wage is 300 euro and a lot of people live on that or close to that) I still think how in the US I could make a lot more money and if I have an idea I will have a bigger chance of making it real.

[@mrwatermelon3123]

I hope you can make it man

[@avnerfriedman2381]

Many us companies will hire foreign workers to work remotely, and may even pay a near us salary, but your expenses are lower cause you're not in the us. See if you can get a remote job at a us company, it may be worth it.

[@Liam-ki7sw]

​@@avnerfriedman2381 US is known for having a economy made by immigrants.

[@ps92809]

@@Liam-ki7sw yeah most of our agriculture is made by minorities

[@josefk1491]

lol just be careful and remember to look at all of the costs involved. You might be making more but also spending more. The US is not a good place to live if you don't have wealth because it isn't that economically friendly for low to median income earners. Start out in a western European country to develop your human capital because they offer more privileges, then move to the US.

[@tomflynn8651]

I emigrated from the UK to the US. I think there are so many less barriers to education (bar the cost), as well as to high salaries in the US compared to the UK.

[@hoogyoutube]

Totally, but the UK is also in an entirely different world in that regard. Been thinking about making a video on class in the UK for a while actually.

[@tomflynn8651]

@@hoogyoutube That would be a great video!

[@josephbrennan370]

@@hoogyoutube it all starts with the education system in the UK. Class divide stems from it and become deep rooted in society

[@billthekid1591]

The uk is closer to the usa than europe which makes sense given the usa was in the empire.

[@zizek4630]

@@camatzuma nobody in the UK gets paid to go to university. You have to take out student loans like in the US (albeit far cheaper)

[@fakename9293]

Just like others said, EU is basically a hard mode for the start ups. The market is fragmented, the language is all over the place, while in the US it is all single market, with also laws basically ignoring any customer rights. US goes to show how beneficial is being a unified group of smaller states. How can someone think being a lone state is beneficial to them?

[@hoogyoutube]

It does help a lot to be unified :)

[@franknwogu4911]

nationalism i guess

[@ihl0700677525]

EU is, in fact, a single market, probably even more united in this regard than the US. For example, in America, state law may differ, sometimes significantly. One product that is common in one state might be *illegal* in other state. Different states has its own regulations (some with a LOT of red tape, while others use much more laissez-faire approach), and also different corporate tax rate (sometimes pretty extreme, with one particular state tax up to 40%, while another state has 0% corporate tax rate, yes ZERO percent). Also before EU (1950s to 1990s), Europe was the home of many tech titans, like Phillips and Siemens, among many others. So "fragmented market" and language barrier are *NOT* an excuse for the lackluster performance in the past couple decades (2000s and 2010s). IMO, EU's tendency to "over regulate" for the sake of uniform standardization, and also too much focus (i.e. protection) on "traditional manufacture" created this "collectivist" (top down) mentality, which make you guys less flexible than America.

[@NLJeffEU]

Language isn't the problem. We all speak broken english

[@franknwogu4911]

"with also laws basically ignoring any customer rights", you sound a bit salty

[@therambler3713]

I have a few friends that were doctors in the UK. They left the NHS not too long ago to work in the US because they could earn way more money there. They also told me the residency or fellowship programs there are much more innovative and competitive.

[@noahremnek3615]

What is wrong with the NHS? Doctors make a lot of money in the US but people blame you for the high price of healthcare.

[@tijlaerts]

Medical professionals emigrating to the US for higher salaries tend to move back rather quickly after they need to deny treatment due to insurance problems.

[@cakeisyummy5755]

@@noahremnek3615 Thatcher kinda ruined NHS England.

[@cakeisyummy5755]

@@tijlaerts I can't tell if That's Funny, Depressing, or Both.

[@andreasbeyer4091]

@@tijlaerts Sounds like their priorities aren't in order.

[@EmilNicolaiePerhinschi]

watched a ycombinator video, and the advice for aspiring startup owners was to have money for food and cheap rent for two years In Europe that would include also two years of personal taxes, a bunch for extra surprise taxes, another bunch for visits from various agencies, yet another lump of money for an office because working in residential areas is sort of discouraged if not banned (so don't plan on working from your garage unless you can maintain the secrecy) etc.

[@HFilip11]

This. You have to pay mandatory 15% tax, 29% (or thereabouts) social security, 7% optional healthcare (not optional if you are the employed one). You also have to get approval for whatever business you apply for, which can take up to 2 months to get and can have a mandatory exam if it falls under one of the over 150 different jobs. Then you very likely have to apply your car for business use tax which is about 200 dollars. You have to have a "headquarters" which shouldn't be in your home, since (if you work as for example an app developer) angry people can easily track you down, so you have to buy a virtual address. You should read every possible law and tax code of which there are way too many and even then you just know you forgot something about for sure.

[@EmilNicolaiePerhinschi]

@@HFilip11 in Romania the percentages and the names of the impositions are different but the result is the same: startups move to London or US as fast as they can not even bothering with the tax law, I stopped understanding a long time ago what I had to pay while I had my own company

[@HermanWillems]

@@EmilNicolaiePerhinschi When i was in Romania. The only problem i saw what is holding back Romania is corruption.

[@nuduw]

As an Indian engineering student, I can relate to this brain drain problem very well. Many graduate students here enroll themselves in a grad school in US and pretty much all of them end up working there. Start-up scene in India seems to be a bit more on the positive side recently, though. I think most Asian countries are in a similar position - massive brain drain but budding start-up scenario with government encouragement.

[@peak_911]

well indians suck up to their "engineering exams", so what to expect? kids choosing colleges rather than choosing the courses they like

[@corey2232]

I work at an elementary school in Texas, and about 50% of our students & families are from India, and another 20% from Pakistan. It's a very nice area too, so I suspect Indian immigrants are finding a lot of success here, then bringing friends & family to the US as well.

[@HFilip11]

Man, american entrepreneurs have the easy mode on. In my country you have to pay mandatory 15% tax, 29% (or thereabouts) social security, 13.5% optional healthcare (not optional if you are the employed one). You also have to get approval for whatever business you apply for, which can take up to 2 months to get and can have a mandatory exam if it falls under one of the over 150 different jobs. Then you very likely have to apply your car for business use tax which is about 200 dollars. You have to have a "headquarters" which probably shouldn't be in your home, since (if you work as for example an app developer) angry people can easily track you down, so you should buy a virtual address. You should read every possible law and tax code of which there are way too many and even then you just know you forgot something about for sure. Then to find funding is almost impossible, the government still half lives in the 1920s, the other half lives in the communist 1980s - very little digitalization, almost no incentives or grants - those come only from the EU, which gives out mostly only to large manufacturers and farmers. Scaling up is close to impossible even in the country as mayors of villages have a bit too much power in zoning and tax allocation. Moving beyond your country is hardcore chore as that means absolutely different laws, currencies, taxes, languages and mindsets. That could mean contracting new lawyers, accountants, translators, management that understands the country and can effectively report to you. Although these things can be found in any country on earth, they do seem like a higher difficulty for anyone just starting a business in Europe. Hence almost everything that's getting big and any funding is mostly just a copy cat of american companies.

[@yuriel6691]

Sounds like Germany if you raise the taxes a bit 😂

[@vito2320]

It sounds like Poland to me xD

[@kaatto2121]

This sounds absolutely terrible in every way

[@HFilip11]

@@kaatto2121 Welcome to the mindset of "f**** you for trying to do something useful for our country you evil worker expoliting millionaire". Meanwhile you just want to publish your few dollar in revenue making app and/or drive for your local uber eats equivalent.

[@thepedrothethethe6151]

@@HFilip11 It's basically a system designed for rich people and corporations since the 1980's. Too many oligopolies!

[@tweak3871]

American entrepreneur here who employs people from Asia, MENA region, and Europe, as well as advises startups abroad: The biggest problems with Europe from my perspective has been mentioned in this comment section, so some of this will be repeating what's already been said, but wanted to add a few things as well. There are really detrimental problems that affect every stage of growth in Europe when compared to the US: - For early stage, I don't have numbers to back this up as this is a lot harder to track, but anecdotally it's a lot easier to find pre-seed and seed funding in the US than abroad. Risk tolerance is higher here, and you also just have way more people with $50k bullets to throw around than just about anywhere else. I imagine that the "Friends and Family" funds are available to way more people in the US per capita than just about anywhere else (with possible exceptions in places billionaire-dense islands and micro-nations like HK or Singapore) - In general, there is just more regulation to worry about as a small stage startup in Europe than in the US. We currently have a sizeable amount of employees and still haven't had to hire HR or lawyers really at all, and I don't anticipate we will for awhile. - Regulation differences between countries is a costly barrier to overcome for mid-stage startups - There are less opportunities for late-stage funding & in general potential exits are valued lower, just less money in the hands of wealthy private citizens and businesses - In nearly every single subject, the world's top research universities are here in the US/Canada, largely due to talent investment from their corporate counterparts. Like right now there's been a noticeable shift in talent in Silicon Valley for example where pretty much all the talent has become much more highly specialized, and more general purpose software engineering & what I like to call "App devs" are being hired abroad primarily in places like South America, India/Pakistan, and Asia. So the core talent that will build the differentiating technology is based in US, and all the more routine work is being outsourced, which has significant effects on the talent in the countries that are being outsourced to. Some might find this surprising, but I would say that the average Pakistani dev I've hired has been both cheaper and MORE experienced than their European counterparts, outside of the UK & Germany. Coronavirus work practices have been rapidly upskilling the countries with the least expensive workers, I would encourage one to browse around on fiverr and note just how sophisticated some of the services being offered are and where they are based, these devs are wildly impressive given how humble their educational backgrounds are, and I expect that to continue. But the point here as it relates to the EU here is that the kind of experience that many workers will get outside the US is not the same that US devs will get, and there are significantly less opportunities outside of the US for this specialist kind of talent than inside the US. This could change with remote work, but right now that's the trend from my perspective. Additionally, I think there's something to be said about quality of life and taxes for the rich in the US vs. Europe. Say you're an entrepreneur that successfully exits, the US has a large system of legal corruption that greatly benefits that ultra-wealthy, and thus is one of the best places to be on earth (if not downright THE best) to be if you have a net worth north in the 10s of millions of dollars or higher. The official tax rates for the ultra-wealthy in the US is supposed to be somewhere around 47%, but everyone knows that the effective rate that the rich pay here is much lower, averaging between 8-25% depending on a number of factors. Compare this to many European nations that have instituted wealth taxes and the like. Now I'm sure the richest in European countries still find ways of dodging these but the point is that the US has a system of securing wealth like no other. There's always a chance a more socialist government gets elected in just about any country in Europe and suddenly cracks down on the wealthy, this is virtually unimaginable to happen in the US. Now I want it to be clear, I am by no means suggesting that this is necessarily a good system for the people in US, or suggesting that Europe suddenly mimic the US's practices, I think everyone knows that quality of life is much better for your average citizen in many European nations than it is in the US. I moreso say this to highlight that it's very unlikely that the US will be unseated by Europe as the world's greatest startup ecosystem, I think the odds are much better for Asia, but even then are still unlikely as I don't think many people want to exit in place like China. BUT, I think we can definitely expect Europe to continue to grow quite significantly, and certainly at time rival the US and even exceed the US within certain sectors of the startup economy as we are already seeing. But you can also bet on the brain/wealth drain to continue until some more seismic changes are observed.

[@jjkigtu]

Nice overview.

[@max-de-boer]

Appreciate your extensive and well-argued analysis! Pretty much the antithesis of a typical KZbin comment

[@MaticTheProto]

From my perspective start ups in the US can torture their employees and do shady stuff to an insane degree, and as long as they succeed nobody will care

[@Ryanandboys]

US startup founder (techstars alum) here, I know a ton of people from Europe and all around the world here starting companies, universally they say their home country's are naturally risk adverse and seek comfort and security 9ver innovation and growth. It's mostly a culture thing and centralized government funding as an answer is just silly and counter productive.

[@wizardomri5745]

Just watched through your catalogue and I gotta say I love your channel and style. Can’t wait to see your channel grow!

[@Mimas2115]

I live in rome and can sort of understand why this drain is happening, at Least in Southern Europe. Nothing is modernized or Maintained. Just this year about 300 public buses had to be scrapped because they were so old that the engines would fail in the middle of traffic and sometimes outright explode. I understand that this is also an issue in american cities like new york, but the problem ere it that the city didn't have the money to pay for new buses so they hired private companies. The reason they didn't have money is because the government is losing all their tax money paying off senior citizen's pensions. (Not trying to be rude to senior citizens, they need that money) The problem this creates is even less money, which means more young people leaving, which means less tax-paying citizens, which means less money, and the cycle repeats itself

[@HladniSjeverniVjetar]

I would say the problem starts when young people leave somewhere else where it's better thus the obvious flaw of the pension scam get revealed. Since pension is just that.. a scam... you scam working people that if they pay someone will pay for them one day...while childbirth is going down... even below replacement levels somewhere. So how do you convince young women to take responsibility since it's all in their hands.. but...what is the major trend today among young women? Carrier and work and traveling and ... life reaches a point where it's too late. :D ironic. Freedom requires a responsible person or it turns into a self destructive cycle of hedonism. Sacrifices have to be made on personal levels...if one does not understand that reality what else is there to talk?

[@thelastpagan4999]

E tutto questo senza contare l'enorme corruzione che è onnipresente in tutta Italia. I soldi che scompaiono come fumo, i politici che dormono in parlamento o che fanno affari con dittatori, le mafie etc

[@HladniSjeverniVjetar]

@ger du Why? The only thing that constant increase in population is used for is feeding the bloated economic system that doesn't work. You can not grow infinitely. There needs to happen a change in overall meta narrative. Globalization is happening either way but mass migration only for the economic reasons is like a blind man trying to lead a retarded person over a burning pit where both will die. There are more aspects to people that being a statistic in an economic spreadsheet.

[@HladniSjeverniVjetar]

@ger du I am already preparing for a life without pension. And i do not mind not having it if the system changes accordingly.

[@Supergecko8]

No, pensions in italy are way too high compared to the average salary of today, it's unsustainable, no need to be apologetic about stating facts

[@mirceadraghici7249]

great format and a great video overall, deserves more views! keep it going!

[@smartjackasswisdom1467]

This is super common in Mexico it's not only for Startups. Basically every profesional that graduated university has the goal of eventually migrating to the Us or Canada because the salaries here are just an insult tbh.

[@RafaelPereira-rp7uq]

This channel is just the best. It talks about the good and the bad with as litle bias as one can possibly have. Is this full time? Would some podcasts be possible?

[@hoogyoutube]

Hey Rafael, so we're currently working on Romulus for the forseeable future. I work on the videos part time and the others work on the website part time because we're all students. We do actually have a plan for podcasts, but not in the way you may think. We think that podcasts lack a certain amount of informational density and usually have to rely on the legitimacy of the speaker or the institution, which we do not have - yet - or want to rely on. Because of that, we want to start a podcast with its own unique format that can stand on its own (without the brand name or specific interviewers). That format will be based on the debate technique called steelmanning. We've tested the format already, and it works, so once we experience more growth we'll launch that format as another potential medium for keeping Europeans informed in a healthy manner. Hope that helps.

[@ram-lj9kz]

He clearly would want the EU to rise and he sees and knows the roadblocks that we have to face, unlike other Europeans that believe that we are the best. That mentality will get us nowhere we need to fix our problem cuz having free healthcare is good but it is nothing if you don't have money to pay for it, with the population decline that we are seeing in Europe we need as much innovation as possible.

[@HarveyMushman]

The production value of this video is quite good. The information is delivered without fluff, which is respectful to the viewers time.

[@galderon125]

Thank you for this video, it was a really pleasuring experience, it eased my mind to hear you speak clearly and with an appropriate velocity while playing nice lo-fi-like music in the background. The dark and abstract color-scheme of this video was really enjoyable too. While the topic you discussed could cause heated arguments, you chose to create a slow paced, mind-soothing video, covering different perspectives. Thank you. sorry for bad English btw lol

[@rorschach.7366]

*India Laughing in corner*

[@proger1960]

*Asia in general lol , Asia needs to change their strict cultures to allow innovation again*

[@dasakashdeep]

You mean crying

[@quinnreverance611]

Yea I was gonna day, India suffers the greatest from Brain Drain

[@CountingStars333]

@@proger1960 it's not culture, it's IP laws and those won't change if we make cheaper generics and not originals

[@proger1960]

@@CountingStars333 Nope it’s culture cause I’m Asian and I understand the strict BS culture of Asians in general which prohibits innovation and inventions from happening. And yes China does still copy a lot due to IP Laws , however sometimes they’re original and do put quality into their work

[@thetagang6854]

It's not just the more accessible funding available in US, but its also the crippling amount of regulation in EU which makes less than ideal to do business.

[@qwertyuiop5530]

It is free health care or mega-corps. Europe still has very strong middle class which, through taxes, builds european economy.

[@newtonia-uo4889]

@@qwertyuiop5530 Healthcare is free in the U.S, it just requires a lot of paperwork compared to Europe since you have to apply for medicare first.

[@lukewillson2176]

@@newtonia-uo4889 What are you talking about I had to pay $1000 for an ambulance

[@newtonia-uo4889]

@@lukewillson2176 Medicare covers ambulance fees if it's an injury or life threatening response.

[@lukewillson2176]

@@newtonia-uo4889 To get on medicare you have to be disabled or over 65...

[@JanneWolterbeek]

Very nice video, I really want to learn more about tech/startups in Europe! Video is very well made without silly stockvideos all the time, and well-narrated. Subscribed immediately!

[@MrUltimatePCgamer]

The visualizations and unique topics are great, love it!

[@lucimicle5657]

Uf, hearing about two companies with Romanian founder given as example stings. But I can't blame them.

[@LancesArmorStriking]

You think that's bad? We lost Sergei Brin (Google co-founder) :(

[@sikerslalatm3147]

These are the biggest. There are far more companies created by Europeans that aren’t AS big but are still headquartered in the US. People here also move their companies in the US most of the time to reach a bigger market which is understandable after all they are allowed to do that. Good for them

[@proger1960]

@@LancesArmorStriking *Asia : We lost every dam innovative founders due to our own strict cultures*

[@ionpopescu3167]

You know there is a saying "If you don't like it here, then leave" and they do and never look back.

[@juice8431]

HAHAHAHA, south Africa lost the richest and arguably the most innovative man in modern history. I think you can probably guess who I am talking about

[@downey2294]

I have been thinking about moving to the US a lot. I'm a student software engineer, once I complete my study I would earn 2x as much in the US than here in the Netherlands. tax rates in states like Florida or Utah are insanely low (up to 9%) compared to the Netherlands where I am from. in the Netherlands you get an income tax of 36 - 51% depending on how much you earn (20k - 60k a year) we have to pay tax for pretty much all services and products we buy which ranges from 6 - 21% depending on the service or product. in the Netherlands, we have a housing crisis. house prices are really high. the same house in the US is pretty much just as expensive but I would be earning 2x as much as I would here in the Netherlands. plus the Netherlands is really densely populated. houses tend to be on the smaller side and lack a garden. now I know money isn't everything and there are perks here that I would not receive in the US. but it's really attractive for me to move to the US because of these things. the only thing stopping me from moving to the US is because my fiancé despises the US and does not want to be so far away from her family.

[@hoogyoutube]

I wouldn’t worry too much about your long term salary. Not sure where you live in NL, but a lot of companies actually see that as an attractive opportunity to get labor in Europe. So if your salary isn’t to standard now, I would wait a bit longer as big fin tech companies grow and expand in the Netherlands. Almost certain that stripe is coming too

[@matrixpictures7799]

you'll love it here but make sure to keep yourself safe and healthy because the healthcare here is good but they will charge you a lot for it

[@jimmyduff7035]

@@matrixpictures7799 it is more expensive than it should be, but it sounds like he will have a good job, which will cover his worries most likely.

[@matrixpictures7799]

@@jimmyduff7035 true

[@reuben8328]

@@jimmyduff7035 I think our healthcare was better before the so-called “Affordable Healthcare” act. Really we need more privatization of healthcare, not less.

[@TheBob877]

I moved to Ireland from California 9 years ago. It was a grand adventure but it's pretty easily cost $1-$2 million to be here and my career is crippled.

[@gytoser801]

what was your career

[@TheBob877]

@@gytoser801 software engineer

[@cesruhf2605]

@@TheBob877 Probably caused yall getting phased out of the workforce

[@majorfallacy5926]

The main advantage the US has over Europe is a single market with unrivaled cultural homogeneity. It allows digital companies (whose growth depends a lot on language and culture) to dominate overseas, while an app that is incredibly successful in the Netherlands can completely fail in Germany. Europe is still really good at traditional engineering

[@seanbrummfield448]

They don't call it the American Dream for nothing.

[@pohanabrokula2553]

🤮

[@teecee1827]

Cause you'd have to be asleep to think it's real.

[@Arcaryon]

The American dream has so far met little resistance but times are changing. In Ch*na the local government has seen how Russia, a weak state certainly compared to the United States was able to successfully influence elections and public opinion both in Europe and the United States. Combined with the fact that AI & robotics are on the rise, this all combines to what I would consider the first big crisis of the modern US American state because all objectives admit prior pretty much solve themselves. The war with Britain came at a time when the latter was severely involved with dealing with Napoleon. The Civil War is proof that it was the only conflict in the USA where as something was truly at stake because all other wars the latter fought were fairly minor by comparison in terms of the loss of life and potential impact on the direction of the United States. Neither Spain nor Canada nor the natives were able to post any serious threat. In World War I the USA managed to establish itself as a global power without the risk involved in such a move due to its naval capacity and in World War II A similar pattern was repeated while all remaining old global powers that had been previously established destroyed themselves and were replaced only by the Soviet who were themselves were so young and unstable at they fell apart a few decades later. It’s a direct comparison any time European power attempted to expand it was met with considerable resistance from its neighbours. The Empire of the modern United States however was established without upsetting a balance until it was so big that it was impossible to be threatened by conventional means. The USA greatest strength has always been her people that were able to develop the vast and fairly peacefully region without facing existential threats. Today however this is no longer the case. Beijing understands that the United States biggest weakness is internal. Radicals have gained so much power that it is possible to exploit the internal conflicts for external gains. The American dream has always been about rising from poverty to wealth. On one hand this promise is true even today but thanks to globalism more people than ever dream about joining the American dream and they are willing to work for less which puts them into conflict with many of the locals. This is just one small example of a larger picture but it illustrates a problem with the core of what holds the nation together - the United States no longer find the kind of compromise that is necessary to govern the states as one. Different philosophies about the future of the United States are visible everywhere and just like once before they have the potential to lead to a some kind of disaster unless they are resolved or cease to matter. The reason why I mentioned the international perspective is because unlike in previous times driving forces of the conflict are no longer just located internally but also externally. . example a Republican president refuses to engage with certain concerns of Europe this pushes European voters away from the United States. What was once a very loyal part of the world consequently starts to look at the United States not as a protector but a potential rival. Well this development is currently arguably still in its infancy combined with shifts in many parts of the world the United States internal instability threatens her extreme influence which in turn may embolden her enemies. I would therefore be careful to argue that the American dream will keep it’s fine because I’m moving to the United States today seems a bit like betting against the pot boiling over when there is no apparent way to shut down the stove.

[@andreiasw1]

Cool video! The number of billion dollar startups in Europe is growing but it isn't growing fast enough. A proper discussion on reasons and solutions would probably take days.. I think however that there isn't only a problem with late stage funding. You've mentioned 2 companies where 3 romanians are cofounders. This is massive as they are some of the first to manage something like this. Most youngsters however don't make it and that is because of lack of entrepreneurial education, a mentality driven by the "I can't succeed" slogan and very importantly lack of initial funding. In societies like the one in Germany, there are plenty of accelerators with proper mentorship and initial funding. This is not the case in a country like Romania (and others) . That is a lot of untapped potential in Europe which doesn't have to be retained in Europe, but first of all be discovered. Anyway, great material!

[@spacewarrior2339]

Good job on the research. I really enjoy how you edit and narrate your videos. Keep going with the cool topics. Also, can you do something connected more to eastern Europe plus Asia?

[@giovannipelissero1886]

Damn I like this channel. Keep it up! It's so good

[@DudeWatIsThis]

These new grants will change little. Most of these grants go to Scandinavian countries (who everyone has a hard-on for, for some reason). These Romanians and Irish people who made Stripe and the other companies will still have to go to the USA. Source: I own a startup company in Southern Europe. The first few years were Hell. I applied for grants in Europe, with a good, competitive project (proof of which is I'm still in business after 6 years, and doing better every day). I was always ignored by the EU. In one especially scandalous grant, _all of Southern Europe, including the whole of the Balkans,_ received a single grant (that's ONE grant), while Denmark alone received 4, Sweden got 3, Germany got 8, and so on. I got sick of seeing this pattern. For Brussels, Southern Europe is just a vacations resort for drunkard nordics. Make up your mind, assholes. "Stay in your country" - sure, bro, I will, but give me the same opportunities as you have (as we are both EU citizens), and the only time you'll see me there is when I have to stop at Frankfurt for a flight.

[@MrPsicopazzo]

I read your comment in Kevin's voice

[@vladimirstok149]

out of curiosity, which southern country are you mentionning? I imagine Greece or Portugal certainly aren't funded much, but I have a hard time imagining they would ignore a place like Italy, (maybe Spain too).

[@DudeWatIsThis]

@@vladimirstok149 I'm from Spain. But why wouldn't Portugal or Greece get funded much? They have startups with brilliant people and good ideas, like everyone else. They even work on places people would like to live in, not in some frozen wasteland which gets dark at 3 PM in winter. Trusting Southern Europe would be good for everyone. We are not all lazy beach bar waiters. Those are our worst people, and the only ones the northeners get to meet, unfortunately.

[@vladimirstok149]

@@DudeWatIsThis I made that assumption on the basis of a small population, and, at least for the case of Greece where I'm from (and am extremely critical of), a dramaticaly high brain drain. Quite in fact, the greek education system is so underfunded and corrupt that even if a Greek scientist from abroad wanted to come out of a sense of pride or citizenry (of which there are many, Greeks are over-represented in the sciences), they'll have a hard time getting in. The system hardly even selects candidates based on their accomplishements, but rather their connections. I'm willing to bet that the start-up fund takes such things into account. I clumped Portugal in with Greece because of their similar population numbers, but I can't speak much for it :/ I've been in Aragon however, there I found a more or less similar nature in the ways people were, though I'd still rank Spain as a more civil place to live in. It is in fact a wonderful place at times, and laced with extremely rich city design and aesthetics, not to mention a world-class high-speed railway (a credit to all the great minds that Spain managed to produce), now that's a place I'd like to live in. Greece is built half-way like a ex-commie country without all the wide-eyed hope, with blocky concrete copy pasted buildings tainting the landscapes and historic centers. Even in the arts they can be kinda cynical, I was aghast when I saw a Bouzouki concert marketing itself as greek culture using a piece from Paco de Lucia.

[@DudeWatIsThis]

@@vladimirstok149 I know a British investor who made all of his current, massive fortune through a Greek software startup. Every time he talks about his achievements, he preceeds it by "I know Greek people are not known for being financially responsible, but these were the most hard working people I've ever met, and they made me - and themselves - rich". So there you go. And population is not the issue. When Denmark alone gets 4 times as many grants as all of South Europe combined, you know something is very, very wrong. I know Patras or Athens are not exactly Hamburg or Paris, but if we keep using those solely as tourist dumps, we PIGS will NEVER make it through this century without becoming a leech on Europe. I'm not telling them to pay for my mom's new washing machine, I want them to give us resources on R&D, and startups, and industrial projects, so we can prosper, and don't have to leave our countries and steal their jobs. PS: yes, the Greek restaurants in London with the guitarists playing Spanish songs (and singing in Spanish!). I've been there. See? They really aren't any smarter than us :P

[@pierrekilgoretrout3143]

In the university where I studied, the 2-3 first students are leaving for USA every year. So Belgium is paying the studies of brilliant students that develop their career un the USA. I think it is the same in other universities and other countries too. What should we do?

[@EvilTaco]

There's also many students from abroad coming here? I don't really see an issue lol

[@Arcaryon]

Force people to stay or stop funding this kind of service. While it sounds radical, to fix many of the problems that European states face you need human capital. If this capital is constantly incentivised to leave nothing is fixed. If people are forced to stay in one place they do everything to make this place as good as it can be but if they can always leave they are instead just trying to find the best place. Since the whole wide world cannot live in the United States it is therefore my opinion to assume that it is never a good idea to let people whose education cause a significant amount of resources leave without using their talents to facilitate some kind of improvement because the alternative is to accept the total the decay of society. This is not the only out of the potential long-term solution but it is the most important first step necessary to find any kind of answers to the problems Europe faces.

[@RafaelW8]

Great video. You got a new sub.

[@hoogyoutube]

Thanks!

[@Bultizar]

Reasons they "go to the states" has to do with 2 main advantages: 1. Most investors are in the states, once it booms they want the HQ close to home. 2. Laws favor corporate in the states, that means less rights for the people, huge advantage for the corp.

[@lmac7633]

Me an American: I see this as a absolute win!

[@BicycleFunk]

Why?

[@looseygoosey1349]

@@BicycleFunk We get the good shit.

[@miproduction6196]

@@looseygoosey1349another American 2 years later: say less fam

[@Arcaryon]

To compete successfully against the whole world is a good thing until you get laid off because someone from India or Europe is very much willing to work for less than you. In the end it is certainly true that the United States is a very successful economy but I wouldn’t trust a system built so much on maximising profits to remain stable forever.

[@miproduction6196]

@@Arcaryon which we see degrading for more exponentially,recently. The corruption in all areas of government is getting out of hand because it’s crumbling

[@Raan03]

In Europe, you get punished for thinking differently or doing things differently. There isn't any help and they will try and break you. It's a huge risk trying to start something because society and laws are hell bend on having a mindless employee-status. Once you leave the employee-role, you're pretty much on your own, while they will punish you to the fullest of their possibilities. Even basic things will be hard to do if you have a harder time. And yet, even when you're going back to being a mindless employee, they will still punish you.

[@jefrreyjeffery2192]

How? Punish? I don't understand you?💀🤦🏻‍♂️

[@rirabienkirira8780]

@@jefrreyjeffery2192 For example in France egalitarianism is more communist like than China actually.

[@UbeRNooB24]

Same thing happens with Canadians going to the States for university, work.

[@ninjam77]

I think this was a great video, it's well made and seems to be well researched. One thing that I think would improve your videos in general however is going a little more in depth (though I understand if that's not possible/ wanted). Like in this video exploring why Europe is lacking in this regard, while the US is not would have been interesting.

[@david.ricardo]

We’ve seen before how the EU try to emulate the success of private American enterprise with government bureaucracy and fail. I don’t see how it would be different this time with a government-run startup accelerator.

[@timmy7201]

As a European myself I'm actually not amazed by this... I live in a country where high-schools, till this day, put more value in theoretical education courses than tech-education courses. Theoretical courses train memorization, technical courses train reasoning skills. High-school teens who fail in those "theoretical" courses are recommended to "descend" towards technology driven education. Parents often force their teens into theoretical education, due to the bad stigma tech-education brings with it. This bias towards tech disappears in college and university, resulting in many "theoreticians" from flowing towards a Bachelor or Master in science and technology. The "theoreticians" learned in high-school to memorize everything and as such often succeed in their Bachelor or Master degree. These people lack reasoning skills and can't think outside the box (or rather outside their memorized textbook), which causes massive delays and issues in the tech industry where I live. Sadly most managers and politicians are also "theoreticians", who are blind towards this issue. As a result most technical educated people with reasoning skills are stuck fixing the stupidity created by some wannabe "theoretician" of an engineer, instead of creating their own startup. Those who do, those leave towards the USA...

[@tortture3519]

You don't sound like an European. An European would clarify which part of Europe they're from.

[@newwaveinfantry8362]

I don't exactly disagree but I'm confused by what exactly you mean by "theoretical".

[@vornamenachname1069]

@@newwaveinfantry8362 "theoretical" might mean Abitur (in German culture) and studying humanities at a university, while technical means people who work in jobs that did require a Ausbildung (training program) held by the hiring company. I have to partly agree with him. Even though I am a theoretician myself, I feel as if many other theoreticians, especially those from humanities, seem to lack basic logical thinking. Medicine is also highly biased. Doctors go through 10 years of training and when they encounter any person who shows up with hard to explain symptoms, they often are completely incompetend to do the detective work to find out what causes their symptoms. Then they simply assume that it must be somatic/psychosomatic. This however, is also a problem in many other countries as medicine is a discipline that has, for the longest time, be made for "the average human beeing" and there are many people who are divergent from that notion. They have rare gene mutations that will make them vulnurable to "mysterious" diseases like Long Covid/ post infectious disease syndrome or schizophrenia, parkinson's, alzehimer's and so on. In Germany, in addition to that, most doctors are stressed out because of too much beaurocracy and have barely time to do their work. They also aren't able to read studies as those are mostly written in English and for some reason, most medicine students do not have sufficient English skills.

[@kate2create738]

This comment and the following thread was very informative!

[@timmy7201]

As an update: - I didn't specifically state from what country I am, for privacy reasons. One can probably just look it up in my account information anyways, if interested. - With "theoretical", I meant fields/education where memorization is deemed most important. (doctors, lawyers, etc...) - With "technical", I meant fields/education where logical thinking is usually of most important. (Network engineer, software engineers, etc...) I studied software engineering myself, at uni. There I noticed that many students, who where excellent coders, failed their programming classes. I also noticed that many students, who where lousy coders, aced their programming classes. How is this possible you ask? Well, a large portion of the exams where pure theory instead of coding. Those bad at coding, just memorized their textbook and scored points. Those good at coding often lost points. The more practical programming questions, where often formulated in such way, that they where very difficult to understand without memorizing the whole textbook. Those good at memorization understood the question, they couldn't really solve it but at least give it a try. Those good at coding would be able to solve it easily, if they understood the damn question. So a large portion of students who I graduated with, where to incompetent to code even a simpel script. Whilst many of those who I deemed excellent coders, failed miserably...

[@migress1999]

First video I saw, already subscribed

[@yoavmor9002]

So... Europe's solution to lack of capital is government financing? I can't see how anything could ever go wrong...

[@HavanaSyndrome69]

They're overwhelmingly socialist at the EU. They would never consider another way of doing things than giving with one hand while choking with the other. I'm sure they never considered anything other than government financing. Who decides what to give money to? What is the risk to the people deciding to fund things? It's immediately obviously a disaster.

[@cherubin7th]

@@HavanaSyndrome69 In Germany, when you listen to the people speaking about problems, the only solution to everything is always government. The government should do this or that. You get a strange reaction if you suggest that someone should do it themselves privately.

[@cakeisyummy5755]

@@HavanaSyndrome69 *Social Democratic Not Socialist. Do NOT Confuse the 2 Things up.

[@christophreuter2386]

@@cherubin7th rightfully so... Systemic change trough a democratically elected government is better than hoping that some individuals will do something about a problem( Not to say that private measures arent also good)

[@yoavmor9002]

@@christophreuter2386 Forcing change through government is bad 99% of the time. Government gets no feedback on anything they do until it's way way too late to stop. And it also acts in its short term interests and not in the needs of the economy for years to come.

[@jaehongsong4904]

America always wanted to be different than the rest of the world so it makes sense why they are the most innovative. Startup culture started in USA, and is common even today, where young people eat ramen noodles, sleep in a car to save money, while trying to make their absurd ideas into reality. This isn't looked down on but rather praised by the public, and easy to get funding too because if it blows up, it blows up bigger than any country in the world

[@TusharSharma-cy9xo]

India too is facing the same problem, recently parag aggarwal became the ceo of twitter. he was from IIT bombay. Some of our best minds get their education from india and then leave for usa. Makes me think that while india is very much capable of giving good education, we are still lacking in giving good employment.

[@Perrirodan1]

That's because redtape in India is famously ridiculous. Cut loose with the failed socialism and India will become the next China.

[@blainegabbertgabonemhofgoa6602]

@@Perrirodan1 India has the potential to become a lot better than China if they cut the red tape

[@proger1960]

@@blainegabbertgabonemhofgoa6602 *Ehhh their culture is quite mixed and corruption is at all time high , so I don’t know maybe*

[@qweds3127]

"India is very much capable of giving good education" . That's not true in comparison with other developed nations, atleast as of today. We have major infrastructure problems in universities , only theorotical knowledge is tested add on top of that reservation .

[@fedethefico]

Very interesting! Thanks! Great content!!

[@TopNotch770]

great content and an amazing channel!!!

[@yunleung2631]

A big problem is also that the US is one language, one set of (mostly nonexistent) regulations. The EU has MANY regulations and many different markets.

[@Sadiadler]

wdym? you clearly have no idea about the US if you think like that

[@yunleung2631]

@@Sadiadler I’ve grown up here. There are very few regulations Regarding data and the government almost never cracks down ok companies. The EU is very comfortable in both regulation

[@artrite6903]

I live in Germany, have a decent income, but every time I receive the salary, I think about how I could make 3 times more money, I could retire in my 40s if I would be american.

[@pepehimovic3135]

You’re not taking account for cost of living.

[@wizzedcam]

@@pepehimovic3135 Actually as someone who moved here from Poland I can say it is easier to live here when you can make so much money already

[@lukeonuke]

Finaly a high quality chanel focused on europe

[@maxmadovsky5423]

So glad I found your channel

[@iivin4233]

How good or bad is this for the US? Education is said to be so expensive in the US yet Europeans are finishing their studies in the US. This is worth looking into.

[@TheGreatOne-gw7xh]

USA has the best universities in the world.

[@deprogramm]

it's expensive but the vast majority of students aren't foreign lol

[@Arcaryon]

It’s good for American companies and it’s good for the people who leave but in the end it is bad because the locals are forced into a competition they cannot win, The countries of origin loose good workers and eventually perhaps even the very ability to produce more skilled workers and society becomes more and more unstable. Since salaries will remain the biggest factor to save costs for a while and AI & robotics can improve efficiency for any single worker drastically this means that any foreigner who can be trained accordingly will replace a higher local sooner or later / accept lower salaries. It’s a downward spiral. First it doesn’t seem that way of course but give it a few decades and once again consider the impact of AI and robotics. Less people will be able to do the same work with a little bit of tech so they will naturally require higher salaries and to save this kind of cost many companies will elect to pay their less skilled employees far less because the competition that currently forces companies to pay well will be reduced significantly. Imagine a world where a single specialist can perform the jobs of 1000 current people. Obviously the specialist will be paid very very well but their education will likely also be very very expensive. Consequently according to the US model less people will be able to afford this kind of education and according to the European are arguably simply global education model estate will have no incentive to help to fund the education of specialists who simply leave. It is therefore my opinion that the current trends are sealing the end of globalisation as we know it. If you cannot outsource your company you will instead need to lower the cost of some of the way and at one point people will start to understand that being a global leader means that they are competing with the entire world for positions that get less and less over time. We currently also have another issue that people seem to forget: what kind of project do you sell when next to nobody has a job? What seems like science fiction today may become a reality in many regions of the world if the current transformation of the economy it’s not being monitored carefully. I want to point out that any development that is currently occurring and is being observed such by myself may not continue because the word may choose to react and find solutions. Everything I state is based on the assumption that current forseeable trends continue.

[@JoakimUddholm]

As a European (Swe/Ger), having worked mostly at startups, this feels a bit off. I do know some university classmates / old colleagues that work for US startups, but very few moved to the US, and are instead still based in Europe with EU salaries and taxes. More I know are working for national startups or normal businesses.

[@meanmanturbo]

Well Sweden is a bit of an outlier, looking at the 2:10 graph Swedish investors almost put as much money into startups as Germany. But Sweden only has a population of just over 10 milion and can't carry Europe by itself.

[@alexsanderrain2980]

Good video, subbed.

[@jmigsan]

love this channel

[@Rubysh88]

Taxes are a issue too, incomes that would be considered low are often taxed like crazy, here in Portugal, to get 1200€ liquid, it actually costs 2000€ so there’s a 40% tax there between what you and your employer pays… stem jobs should be well paid and brains know that wages simply are much better in the US in both gross and liquid income

[@realShikha885]

Brain drain exists: US: We don't do that here.

[@sangwoohan1177]

US: I am the one who drains!

[@thatdude034]

A new promising KZbinr at the start of his journey? Well don't you know it's dangerous to go alone. Here, take this sub.

[@TheSilver2001]

Great video! Hope you do more videos talking about European tech, for example, BlaBlaCar, FlixBus, Skype, and Spotify. Also mentioning national initiatives like France's French Tech or Germany's Deutsche Tech. And another separate video can be about 5G companies and capacity of the EU - Ericsson, Nokia.

[@hoogyoutube]

I will

[@lba7362]

Its pretty obvious why its happening. And also it won't stop happening, EU just can't compete with the opportunities that USA can provide. Also the future of EU is much more grim than of the USA.

[@CitsVariants]

capital. and biased.. US have the worlds currency and prints their way out of problems.

[@CitsVariants]

EU dont have civil war threats. lol and americans think EU want to split, while it's the opposite. Guys need to learn geogrpahy first to start lecturing.

[@lba7362]

@@CitsVariants Because countries with euro as a currency dont do the same thing right ? Look at the debt to GDP ratio of EU countries, their yearly deficits, also look at EU inflation rates for this year.

[@Arcaryon]

The idea that it won’t stop happening it’s just as unrealistic at the idea that the USA will forever rise. Both are possible but both are also based on assumptions that can easily be proven wrong under the right circumstances. In other words predicting the future it’s impossible unless you can understand every single piece of the puzzle. Case in point perhaps the United States will begin to suffer from its on success where the rest of the world finds unforeseen strength due to regulations that are currently seen only as a hindrance or perhaps on the contrary the USA will overshadow the world so much that its own confidence can be laid to rest while the globe dissolves into chaos. Ultimately I think it is important to consider the fact that often times the greatest changes in history are a result of relatively unforeseen circumstances because I wanted is possible to foresee potential conflict it’s the outcome that matters the most. To name one example currently it appears that AI will create lots of potential but also a lot of unrest. How the world will react to this force will shape a lot of potential conflict or potential progress and it is not currently foreseeable whether or not this leads to a benefit that will be felt by the majority of people just a tiny minority while many others will lose much more than they can ever hope to regain.

[@apotk95]

Great video. Although India as a standalone nation deserves its own video I think. Keep up the great work! Wish you all the best.

[@stijnphilips8502]

Cool video! Interesting topic that I have never heard anything about

[@Sole880]

Good stuff. Commenting to help the you in the algorithm

[@avus-kw2f213]

Reminds me of Germany in the 1940s A whole lot of scientist seem to have left Europe for some reason

[@texaswunderkind]

Except today the United States has the fascist leader (Trump) who blames minorities for problems and thinks he's above the law.

[@avus-kw2f213]

@@texaswunderkind Who asked

[@CitsVariants]

@@avus-kw2f213 i did

[@avus-kw2f213]

@@CitsVariants wow what are the chances 0.0058262% is my best guess

[@CitsVariants]

@@avus-kw2f213 who asked.

[@dvsmapple]

I always find interesting the matter of public banks. On the one hand, the case of Germany clearly demonstrates that those are essential for building competitive SMEs, export-oriented economy, proper manufacturing base, and stronger local communities. Nevertheless, for some weird reason, Europe still falling behind on global tech champions. Which is not necessary a bad thing either.

[@defintity_9951]

Economically it is a bad thing.

[@Mind1e55]

and that's a subscribe thanks, great video :)

[@alexgarvey418]

Great video.

[@kate2create738]

The thing is that the US has gained a lot of innovators for generations for various reasons, escaping poverty, religious persecution, wars, etc. Largely how the country developed the atomic bomb and was able to gain enough information to perform in the space race. One thing the US tries to uphold is that chance of opportunity, even if the locals here are more disregarded in favor of bringing in more diversity (it’s like they’ve forgotten the popular term of the melting pot). A lot of those who find these programs are excited to see something new and the potential it holds. Other regions in the world is getting better, I think the Japanese and Korean works are always thriving. Yet others are more concerned with making risking support that has little to no guarantee. Some I think have to visually see the results, yet Americans are encouraged to think outside of the box than given credit and can be able to fill in the spots between A to D. Some countries have other priorities which is fair, like restoring and preserving important historical sites that impact the culture. The US is still new and there is little more of a spirit of building and innovating that has become our culture.

[@larsjarredspeetjens]

European jr software engineers earn on average 48.000-50.000 meanwhile our American counterparts can easily start earring from 100.000 per year.

[@Abhi_gyan_1]

also US has low tax

[@jakub_bartler]

I love your graphic style

[@topheye6318]

Incredible channel

[@joelimbergamo639]

Yeah, as a CS student who doesn't wan to live in America, it is still a hard desicions seeng how salaries are basically double.

[@stephenchapel2058]

Forget the money,. Find something you like to do and you will never have to work a day in your life.

[@joelimbergamo639]

@@stephenchapel2058 That's what I'm doing, but they pay me double for the same work I love. I'll see where I end up but I can't negate that it's tempting

[@ED_667]

@@joelimbergamo639 that raises a valid concern, after all if we do what we love but realistically it doesn't generate enough money for our need, then feeling "never have to work a day" is just like taking a placebo. Tbh, you might as well have a general ideas of the environment there if you decided to go

[@ling636]

Go and work for a year or two and then come back. That is what a lot of people do

[@fungo6631]

Keep in mind that in the US you don't receive a net salary. You have to pay a lot of things by yourself.

[@Uttam_Kumar_Jana]

I don't know much about economics but I have observed something that humans when looked at from above seem to behave like ants,as soon as they know about a large concentration of something they want, most of the members go directly towards the largest concentration of sugar or concentration of opportunity and they ignore the other relatively smaller chunks of sugar somewhere nearby . The point is that many members do go towards those bits of sugar nearby but the crowd is always the largest near the largest chunk.

[@riccardodandrea2479]

Great Video !!

[@IannoOfAlgodoo]

In Europe they have more stricter regulations, surrounding businesses and employment. Which I think have a huge impact.

[@cakeisyummy5755]

As an Eastern European, i personally wouldn't move out of my Country. Ever.

[@normieloser6969]

Living in the US is generally worse than in EU

[@somerandomguy7458]

@@normieloser6969 only if your european

[@normieloser6969]

@@somerandomguy7458 I'm both

[@Steve-zc9ht]

@@normieloser6969 no only if u are European ppl from Latin America asia or africa always come to the USA by 2033 ppl of European descent are expected to be a minority

[@normieloser6969]

@@Steve-zc9ht Oh, that I agree with

[@adrianerazo433]

Cool video topic but wish there was some further analysis on why there is a brain drain in EU other than just lack of VC infrastructure. Definitely more complex than that having to do with incentivizing entrepreneurship

[@Culturiosity]

OMG how can you make these edits seem so simple? What program do you use?

[@DrFunkeyMonkey]

Super nice video!

[@totally_not_a_troll]

Video: July 6 UiPath value: $66.5 / share, already in decline Today: 28 Dec Ui Path value: $44 Has been on a downward trend since IPO. Databricks doesn't look special either. No IPO yet. Stripe, as long as it's not cooking the books, looks legit valuable tho.

[@EMOJO_2001]

The brain drain in Brasil it's pretty bad too, a lot of brilliant people leaving to the US.

[@erickaL4]

Italy, the country where my husband is from, is experiencing severe brain drain for a long time now. My husband is getting a phd in stem and unfortunately he knows he won't be able to use it in Italy (in fact he still gets a metal worker type contract) so we have to leave beautiful Italy.

[@expansivegymnast1020]

Could you do a video about the effects of brain drain from Russia in particular and Eastern Europe in general, and how the current conflict affects it?

[@lazarusledd91]

don't worry, we're getting the finest afgani doctors and engineers

[@bloodyglitch1777]

Best of the best

[@chadj1797]

LMFAOOO

[@jareddixon9108]

I had a computer science professor from Germany in college. He once told us that people will spit on Ferrari vehicles because it’s considered flashy, I don’t know if that is true, but it made me think.

[@HFilip11]

It is indeed true, or at least was in most of the eastern block right after the end of socialism/communism. People were not used to some people suddenly having more money, and you know - since communists preached that if you make too much you are predating on others - some people still carried that idea even after the revolution. At least that's what happened here in neighboring Czechia. Overall it's considered tacky to this day. Conversely I see that very same thing in the US nowadays. Plenty of videos of people destroying expensive cars and comments are all like "eat the rich".

[@thepedrothethethe6151]

@@HFilip11 It's easy to say that if you are well off. At least in Europe you have the ability to go to a great school for free, and university is cheaper than most of the world. In my country, Chile, even the State universities are really expensive, around 7.800 USDs (in a Country that has GDP per capita of 13.231 USD), meanwhile your goverments at least take some care of your well being.

[@vinniechan]

Late stage start up funding is an interesting one It's probably got more to do with mind set than anyth as a venture capital would probably hit 80 busts before finding 20 that hits really big that pays for all everything u need venture capital based in Europe with sufficient size to spin it off into private hands

[@robbiehewitt1919]

Hoog! Where did you learn how to animate like this and put your videos together in this style I love them all and I would like to make videos myself

[@user-ug4ow1qq2h]

While Europe loses specialists to United States, here, in Russia, hundreds of thousands of people are dreaming of moving to Europe. Imagine what kind of a lost cause Russia is.

[@reuben8328]

As an American, I’m not just trying to give false hope, but I don’t think you’re a lost cause over there. America isn’t innately better, just because. We’re good because we have good policies, namely Capitalism. But we have our own problems, which prevent us from even greater thriving. For example, we have taxes that are much too high. Better than many places, sure, but still too high. Government spending is terrible. Really, we need a right-libertarian society with a minarchy (not monarchy). Russia probably has a long way to go, but it’s not impossible if it becomes realized how much change there really needs to be, and exactly how to change. You would be amazed at how quickly things accelerate when you have an economy that fosters businesses and development. Even competition within the states shows how effective this is. Some people and companies have moved out of California to go to Texas. The reason being that California has policies that are bad for business and for the private citizen. Texas has better laws. So companies like SpaceX have moved there. Cali is still a great place for business as I understand it, just going downhill and has competition with some other states now. You may even have an advantage over there, since many experienced the horrors of communism first-hand, so may be much more receptive to a capitalistic system. Or maybe I’m completely wrong lol. But all-in-all, I think the biggest change should be in embracing Reformed Protestantism, which lead to many progressive (not as in leftist, but forward-thinking) ideas that helped shape Europe, which in turn shaped America. And most importantly, deals with eternal matters. One day we’ll all be dead and leave whatever wealth we had here on this planet. But in the meantime, the wisdom of the Scriptures guides in all areas of life (though it’s not intended for financial prosperity, and it brings persecution).

[@user-ug4ow1qq2h]

@@reuben8328 you clearly have no clue about public sentiment in Russia. It's the opposite of what makes sense if a country wants to prosper. Half of the people want USSR back, another half support current government. Needless to say, they all hate things they've never seen: liberalism, capitalism and freedom of speech. Propaganda works flawlessly, exceptions are a statistical deviation.

[@MysteriousRival]

As an American you guys can go on praising america. It's a facade, america is a corporatocracy at this point. Yes, you make more money, but you're not guaranteed vacation, you're overworked, companies control your healthcare technically, higher education is costly and inadmissible, etc. Europe has its faults but it's better imo (living in France). yes, taxes seem ridiculous to me but I see where it goes, wages are lower than what I made home and yes I was able to spend, invest, frivolously before but my work life balance was off. Here, i actually have a life work balance. I'm not living to work but working to live. I miss home but america needs to reign in the companies . I'm glad Europe regulates them. I'm glad ideas are vetted thoroughly unlike america ( look at the Theranos trial) .

[@davidturner4076]

Its basically the same or worse in most of europe

[@MysteriousRival]

@@davidturner4076 there's more of a chance or resistance in Europe eg: France vs america where the government just doesn't listen at all.

[@davidturner4076]

@@MysteriousRival still, according to UN data, the average French citizen is poorer and unhappier than the average American.

[@MysteriousRival]

@@davidturner4076 not as far as I'm seeing but I guess, individual expérience can't negate statistical data

[@reuben8328]

@@MysteriousRival it’s not a corporatocracy. It’s a Republic with good business opportunities and personal freedoms. France is pretty well-off compared to most of the world. But to develop more, we all have to be able to point out problems with our home countries. America needs to massively improve in many areas economically, like lower taxes, cutting welfare programs, stopping inflation, etc. France just needs some more capitalism, lower taxes, etc. 👌

[@cekan14]

How did I not discover this channel before? Fantastic; we need more European content on European matters.

[@marcvidal871]

men u make grate videos and they are realy interesting but there is something in your videos that just gives me sleep, i beleive its the music but i just wanted you to know, keep up, ur doing grate

[@thecreepers3478]

Europeans in youtube comment sections: Europe is better than America, Europe has better health care, America has mass shootings Also Europeans: *Edit* I'm not american or anyone from European countries I just commented this because I always saw comments like "Europe better than America" everywhere and I also know that this is a Dutch channel

[@ling636]

I think that is just internet discourse from popular sites (Reddit/twitter). Those site usually always paint a horrible picture for one side and an amazing for the other. I think people here are a little level headed and most are comparing software engineering salaries, which tbh the US is the clear winner lol

[@siyeci]

@@ling636 no US is not the clear winner. you dont have any idea how horrible things in usa. you dont know it cuz state spending billions of dollars to cover ups and censorships. data you get from usa is always corrupted and not trustworthy

[@Arcaryon]

Online discussions are often dominated by teenagers / young adults of a comparable mindset who are the most easily manipulated / impacted group that is visible on the World Wide Web. Basically just because you see a lot of people online talking about some kind of superiority or inferiority it doesn’t translate to the entire group because the kind of discussion you observe likely represents a tiny minority that may not even be politically active beyond the occasional “ha ha my team is better than your team” comment. Both the United States and Europe for different benefits and challenges and both have their fair share of problems to overcome.