[dboreham]

Hmm. Where was http invented? Where was ARM invented?

[WarmWash]

Great. Where are the trillions of dollars that came from those inventions? In the US and China.

[corford]

A huge chunk of those trillions come from European and other non-US sources. Capital controls (or triggering the EU anti-coercion legislation), a truly integrated EU capital market and a few failed USD treasury auctions could very rapidly re-direct those flows.

If https://fred.stlouisfed.org/series/IIPUSNETIQ starts reversing, you'll see a lot of US & EU tech re-pricing (and not in the US's favour). Europe's tech talent is excellent, it's the structural financing disadvantages (and loaded trade agreements, see: https://doctorow.medium.com/https-pluralistic-net-2026-01-01...) that have historically held it back.

[gib444]

And the web browser, Linux, GSM, EUV Lithography (ASML), Python, Turing, Babbage, Lovelace...