"which is why they don't have a tech industry"
We do have a tech industry, just not large behemoths.
Looks like politicians dream about creating behemoths, and they dream about unicorns too.
We do have a tech industry, just not large behemoths.
Looks like politicians dream about creating behemoths, and they dream about unicorns too.
Behemoths are important because only they have the massive R&D budgets to experiment on new and risky ventures, but also have the economies of scale to built massively expensive and complex things like rockets, hyperscalers, etc.
You can't have a powerful growing and internationally competitive economy just with "Mittelstand" mom & pop shops making niche knick-knacks, you also need behemoths. Why else do you think the German military is contracting Google to build them an on-prem cloud and not a German company?[1] Because Germany, like all of Europe, has no SW behemoths that can do the thigs Google can do at that cost and scale. That's why behemoths are important.
[1] https://www.heise.de/en/news/Bundeswehr-relies-on-Google-Clo...
I think you meant:
The main advantage of behemoths is their ability to buy startups like candy when they are to big and become risk-averse. Then you don't see startups becoming behemoths anymore, except for the unicorns (called unicorn for a reason).