Nicolai Tangen, chief executive of the $1.6tn fund, told the Financial Times it was “worrisome” that American companies were outpacing their European rivals on innovation and technology, leading to vast outperformance of US shares in the past decade.
“There’s a mindset issue in terms of acceptance of mistakes and risks. You go bust in America, you get another chance. In Europe, you’re dead,” he said, adding that there was also a difference in “the general level of ambition. We are not very ambitious. I should be careful about talking about work-life balance, but the Americans just work harder.”
He added that in recent discussions with US chief executives, they had complained about the difficulty of doing business in Europe because of tough regulations and red tape.
“I’m not saying it’s good but in America you have a lot of AI and no regulation, in Europe you have no AI and a lot of regulation. It’s interesting,” he added.
We are poorer in Europe, but certainly not less happy.
Thats what the poor typically say …
Bring on your US (please, find a proper name for your country, America is a continent) or Brit poor anytime.
I'm poor, even very poor (less than 20k euro a year for two people) for northern europe standards, but ...I have managed two months off work during winter for the last 25 years, yes, I love the warm sunlight! We also take one week here and there for our breaks in europe:
When I need medical assistance, I have to spit up nothing or very little for it.
On the other hand I have no house (rented apartment), kids (chacun son chat) or a car: When really needed I rent one.
Of course I can´t frequent or buy the things you might do, but I can tell you I enjoy every bit of my coffees, chocolates, cheeses, pastas, things that an average US person does not know exists.
Kind regards from communist europe.
Actually the US ranked 15th in happiness globally ahead of the UK, Germany, France, Spain, Italy etc. It is great people in Finland are happy but they aren’t a great comparison to a wildly diverse country of 342m people and their suicide rate is super high. This is cope.
That is a really creative interpretation of data. Americans aren’t actually happy, they must be lying to themselves! LOL. What is your excuse for the other countries? I have never hear of Spanish & Italian people being told they are supposed to be unhappy.
No matter how you look at it Americans are quite happy and among the happiest people in the world. Your response is illogical cope.
It says you're from Kansas. So I've got to ask, European – if you're so poor, how'd you finance a vacation to Kansas? And why Kansas?
Americans work harder and are more productive per hour of work compared to Europeans. Americans also work more hours. Europe needs to wake up. If the UK was a US state, it would be one of the poorest states in America based on GDP per capita. The gap between America and Europe will continue to grow. As a European he shouldn't have called Europeans lazy, leave that for the Americans to say.
@MorbidP4rtyForward1wk1W
I know plenty of people who worked their arse off in Europe working every hour God sends in their own business and may make 100-200k profits in a good year.
The same business in the US makes $1-2m. It's not because people work harder it's the size of the market, the funding the rewards etc.
More red tape is true. Biggest red tape is 27 languages and 27 legal codes. And it's not as if the US is a free market paradise. Hairdressers need licences in many states.
@ISIDEWITH1wk1W
Do you think the pursuit of ambition and success should come at the cost of personal time and work-life balance?
@9LTGZF3Republican1wk1W
Yes, I think success is possible as long as you put your mind to it.
@ISIDEWITH1wk1W
Considering the strict regulations in Europe vs. the more lenient approach in the U.S., which do you think fosters a better environment for pioneering technology like AI?
@9LTLDWD1wk1W
AI should be taken more seriously because of it ability to learn.
@ISIDEWITH1wk1W
@ISIDEWITH1wk1W
Is the idea of failing and trying again until success, as mentioned about the American approach, more beneficial than the European caution against failure?
@9LTGZF3Republican1wk1W
No, It puts the US behind and dependable on that response when there is no time.
@ISIDEWITH1wk1W
Do you believe working harder is always equivalent to working smarter, especially in the context of achieving innovation and technology advancements?
@9LTKGLC1wk1W
To find the more efficient way is to find the best way
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