And the last thing we need is more competition in ad tech.
But they're also right in the sense that regulation acts like a barrier in many parts of the world. I had often wondered why did Linus Torvalds and other Engineers travelled to Silicon Valley to found Linux, etc? Did they not find opportunity in Finland or any other nearby European countries?
And so have Eindhoven (ASML), London (Revolut, Monzo, Wise and Deliveroo), Paris (DailyMotion, AppGratis), Berlin (Soundcloud, Mister Spex, Zalando, Helpling, Delivery Hero, Home24 and HelloFresh) and Amsterdam (Sonos (ok, technically Hilversum), Booking.com, TomTom) etc, etc. So what?
Tech companies exist the world over. The specific kind of tech company that requires a mountain of free cash and that can monopolize a whole segment is a SV anomaly and Microsoft is the exception simply because of when it started.