Great podcast episode with Christine Lagarde.
Europe has talent, which needs funding. The #CapitalMarketsUnion is urgent.
“Instead of having this massive savings traveling across the Atlantic to be invested in the US and for US investors and venture capitalists to then come back to possibly invest in some selected projects which suits them. We should just indicate that there is a will and there is a way to invest in Europe.”
https://podcasts.apple.com/ch/podcast/the-economics-show/id1746352576?l=en-GB&i=1000742551132&r=692
I'm amazed that Lutnick doesn't see the irony when he goes on a podcast with VCs & talks about China dumping Chinese EV overproduction to kill Volkswagen.
The 🇺🇸 VC ecosystem has been doing the same thing with private money in Europe. American VC-backed companies with their deep pockets have been running services at loss in order to eliminate competition for a long time, knowing that because of the deeper capital markets in the US they can win at that game.
We need the #CapitalMarketsUnion now!