🇪🇺 Dear Europe, please wake up – eu/acc | Andreas Klinger

🌈 Abstract

The article discusses the author's perspective on the current state of the European startup ecosystem and provides suggestions for improvements. The key points are:

🙋 Q&A

[01] We started to believe US propaganda about Europe

1. What are some of the common misconceptions about Europe that the author addresses?

• The author argues that common misconceptions about Europe, such as Europeans being risk-averse, lacking a strong work ethic, and favoring work-life balance, are not true. For example, the author points out that Eastern Europeans work harder than Americans, and even Italians work more hours than Americans.

2. How does the author explain the mentality of risk-aversion in Europe?

• The author argues that the risk-averse mentality in Europe is not genetic or hardwired, but rather an outcome of the system. The author suggests that if the system is improved to make success more likely, the mentality will also change, as seen in the case of India.

[02] We need an EU Inc

1. What is the author's main suggestion for improving the European startup ecosystem?

• The author's main suggestion is to create an "EU Inc" - a standardized legal entity for startups, similar to the role of Delaware in the US. This would help reduce the complexity and friction involved in investing and doing business across different European countries.

2. How does the author explain the current challenges of investing in Europe?

• The author explains that the need to understand 30+ legal systems, involve lawyers, and satisfy various local requirements for each funding round makes it difficult and costly for investors to invest in European startups. This friction can lead to missed opportunities and limit the overall growth of the ecosystem.

[03] Teach English starting at the earliest school classes

1. What is the author's second suggestion for improvement?

• The author suggests that teaching English starting from the earliest school classes across Europe would enable better communication, collaboration, and access to information across the European market. This would help overcome the current language barriers that isolate local networks and media.

2. How does the author argue that this would benefit the European startup ecosystem?

• The author argues that improving English proficiency would enable better integration of the European market, allowing startups to access a larger customer base and talent pool, and facilitating the flow of information and best practices across the continent.