Yann LeCun, Meta's chief AI scientist, claims that Europe's tech industry suffers from a perceived inferiority complex, affecting investment and growth. He highlights that European firms attract significantly less venture capital compared to their American counterparts, citing $178 billion for U.S. startups versus only $51 billion for European ones in 2024. This sentiment resonates with Arnaud Bertrand, founder of HouseTrip, who struggled against Airbnb and reflects on the broader implications of Europe's slow tech advancement. LeCun suggests that shifting perceptions could help improve the situation.
"The main reason why the European tech industry is small is a mistaken assumption of technological inferiority on the part of the European media," wrote LeCun in an X post.
"Perhaps more importantly, there was a similar inferiority complex on the part of investors, which made them less willing to take risks when the mere possibility of an American competitor would rear its head. That has been changing over the last few years."
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