It's "losing" compared to the US? Haha. I guess from a true VC startup bro perspective. It's not "the EU is way behind the US and China", it's "the EU and US are way behind China". Because the latter is the only one who has been taking long-term decision on decision over the last decades, whereas for the other two, 95% is for the short-term, the next quarter, the next election a year from now. The US is even worse in this regard, hence why it's deteriorating even more rapidly.