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>The biggest gap in Europe is not due to a lack of technical ability but rather of European wide capital that's not super risk averse.

It’s both. Copying a validated business model is not a sign of competency.

You don't need to be competent, you need to make money. Japan, China et al also got wealthy by copying.

that’s not how it works. you can’t build long term wealth just by copying. this is why both china and japan had to innovate.