We see things precisely the same. and I agree no need for Europe's governments to change. Indeed, I think as AI and automation shift the job markets at ever greater rates, the need for more European governmental support will grow, so it will be America doing the changing.

The only note: The present situation does hurt Europe some, many of those humans that against all odds DO want to take big risks, will all come to Silicon Valley and take their shot here... so that European power does not confer its benefit back to Europe.