Regulating but not innovating.
Always the same story, always the same result ..
Also Siemens then. The European tech scene isn't as sexy, they tend to make things that are useful, not just things that get VC hype.
But it's true that Europe doesn't produce massive advertisement or tech companies, largely because our consumer laws would frankly make it impossible to grow by monetizing privacy data if you also had to respect European law. The real question, is why we allow foreign companies to do so, but I'm not sure anyone really wants to discuss that in earnest.
PayPal has 90% market share in Europe. <https://www.mordorintelligence.com/industry-reports/europe-m...>