This is absolutely not why there are no leading AI, other important silicon tech, or relevant space companies in Europe. To some degree they exist but are all B-Tier in comparison to US/China. You'd be surprised just how lose money can sit in Europe, I guess. Just not the way it needs to be for this.
The financial structure of the EU is nowhere close to enabling these capital devouring endeavors based on lofty future bets. Operating at a loss for years and years is simply unacceptable in European markets and the EU is not authoritarian enough to randomly divert capital based on political orders like China because the EU doesn't try to be a superpower controlling a hemisphere.
>You'd be surprised just how lose money can sit in Europe, I guess
Can you share which are those industries with lose money?
>EU is not authoritarian enough to randomly divert capital based on political orders like China
Except it seems it was authoritarian enough to manage to divert taxpayer funds for refugees, covid, Ukraine, etc in an instant when the shit hit the fan. But somehow for risky industries vital to domestic sovereignty, that's not possible.
I guess because there's not a well developed kickback industry yet in place for the latter as it is for the former, so politicians handing out the cash to their industry friends can't grift so easily, like they did in Covid for example, or at least not yet.