Part 8/16:
This fragmentation, regulatory burden, and capital flight result in a significant loss of top-tier companies. Europe’s share of the world's top 100 corporations has shrunk from 30% in 2008 to less than 14%, with most future innovation concentrated in North America and China. European talent and capital, instead of nurturing homegrown giants, flow outward, while the continent effectively subsidizes American and Chinese tech behemoths.