Europe has created just 14 companies worth more than billion over the past 50 years compared to 241 in the United States, underscoring the continent's struggle to compete in the global technology race despite having a larger population and similar education levels. The productivity gap has widened dramatically since the digital revolution began. European workers produced 95% of what their American counterparts made per hour in the late 1990s, but that figure has dropped to less than 80% today. Only four of the world's top 50 technology companies are European, and none of the top 10 quantum computing investors operate from Europe. Several high-profile European entrepreneurs have relocated to Silicon Valley, including Thomas Odenwald, who quit German AI startup Aleph Alpha after two months, citing slow decision-making and lack of stock options for employees. "If I look at how quickly things change in Silicon Valley...it's happening so fast that I don't think Europe can keep up with that speed," Odenwald said. The challenges extend beyond individual companies. European businesses spend 40% of their IT budgets on regulatory compliance, according to Amazon surveys, while complex labor laws create three-month notice periods and lengthy noncompete clauses. of this story at Slashdot. #technology #revolution #leaving #europe #behind