Europe and the life of abundance
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In many respects, the EU appears likely to become one of the artificial intelligence revolution’s biggest losers, with China and the US leaving its economies in the dust. Even if European energy policies were not already making a massive data center buildout prohibitively expensive, its fragmented capital markets would make raising the necessary financing extraordinarily difficult.
Europe’s high tax burden, in particular, makes it harder to cultivate and retain AI superstars, much less attract them from abroad. Meanwhile, its ever-expanding regulatory state discourages business formation and entrepreneurship.
