Comment by simplyluke
14 days ago
I’d flip the question and ask you by what metrics Europes tech sector is performing comparatively well. Employment? Average salary? ARR? I struggle to think of a metric that’s a positive outlier.
14 days ago
I’d flip the question and ask you by what metrics Europes tech sector is performing comparatively well. Employment? Average salary? ARR? I struggle to think of a metric that’s a positive outlier.
Longevity, happiness, health, leisure, life satisfaction. Companies are there to make these possible, not to maximise the stock trading price. Some achieve that by making EUV lithography machines, others do chemicals or pharmaceuticals.
Are you aware that you can use the developer tools in your browser to set the price of the stock or your bank account balance to anything you like? You don't have to crumble your infrastructure, run from the mentally ill homeless people or bankrupt sick people to see those numbers.
If you insist on extra steps, you can sell a stock to your friend at ridiculous price and say that that this company is now bigger than the worlds' economy combined.
> Longevity, happiness, health, leisure, life satisfaction
Apart from longevity[1], everything else is subjective so do you have any evidence? From what I see based on a quick search, happiness level seems same in US/Canada vs Germany/France. eg. Rankings by this[2] measure: Canada(15), USA(23), Germany(24), France(27). Or scores by this[3] measure: Canada (6.9), USA(6.7), Germany(6.7), France(6.6)
[1] Even longevity is full of caveats and nuances. When you look at life expectancy by ethnicity, a given ethnicity has similar life expectancy across different advanced countries (eg. Japanese-Americans vs Japanese in Japan). It doesn't even seem to be correlated by income in the US, because latinos have a higher life expectancy than whites[4] even though later group is richer than the former.
[2] https://worldpopulationreview.com/country-rankings/happiest-...
[3] https://www.visualcapitalist.com/a-map-of-global-happiness-b...
[4] https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9256789/
I’m sure Americans are dying healthy and happy at young age. Crunching the numbers until the fit the narrative aside, the chocolates are horrible too.
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> Longevity, happiness, health, leisure, life satisfaction. Companies are there to make these possible, not to maximise the stock trading price.
No? This is exactly the opposite of why companies exist, they are specifically there to increase the stock price via development of their products. That we get better happiness via rising wealth standards is just a coincidence, albeit a very useful and historically true coincidence. And even then, companies can last quite a while trudging along but it will stop at some point if new innovation is not kept up in the form of new companies (as older companies are usually at capacity for hiring). Look at the youth unemployment rate in many European countries compared to the US.
> Are you aware that you can use the developer tools in your browser to set the price of the stock or your bank account balance to anything you like? You don't have to crumble your infrastructure, run from the mentally ill homeless people or bankrupt sick people to see those numbers.
Changing a measure does not change the underlying thing it's measuring, no more than I can time travel by changing a clock. Obviously people are talking about what those numbers represent, not the numbers themselves. GDP is a useful enough concept as I mentioned above, one that correlates well to overall citizen wealth. Europeans are generally quite a bit poorer than Americans, even with the addition of the value of free (or rather, "free") healthcare. Tech employees are even more so advantaged, as their health insurance is excellent while they make multiples of their European counterparts. It is not "libertarian" to acknowledge this fact, and it's one of the main reasons you see many European tech people moving to the US and Silicon Valley.
Right, that's why at the heart of the tech innovation peple are running from mentally ill homeless people the insulating themselves in gated communities to pretend like living in a german village. Huge success.
I wouldn't obsess too much with the GDP too, its not as good as a proxy to the important stuff as people are trying to make it. An appendicitis surgery generates much more economic activity in USA than in Europe and Americans don't end with better appendixes.
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Vacation time.
If we are talking about tech companies, as stated in the great-grandparent comment, tech employees in the US have as much or more vacation time as Europeans. I can easily take multi-month vacations if I so choose (with some prior planning and assent of course), and that is a similar story for other tech employees too. The difference is that we just get paid much more for the same work.
They are allocated a good number of PTO hours, but Americans are really bad at taking them. I also could take that long of a vacation too, technically, but I never have and realistically never would.
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I know a bunch of FAANG engineers that retired in their 30s and 40s, so the rest of their life is vacation time...
Pfft. Iran, Burkina Faso, Cambodia and Bahrain beat "Europe" handily on that metric https://en.wikipedia.org/wiki/List_of_minimum_annual_leave_b...
Let's have those countries as our role model then? /s
The full phrase is "vacation time in Europe".