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Europe's Tech Scene Lags Behind U.S. Giants, Expert Warns

2/18/2026

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Summary

Story summary

Peter Steinberger, creator of OpenClaw and now with OpenAI, says Europe lacks successful tech companies.
He attributes this to cultural differences, noting the United States' enthusiasm and long hours versus Europe’s labor rules.
Steinberger cites ASML as the most valuable European company and says it is far behind U.S. tech giants.
A 2024 EU report acknowledged the lag and little progress toward reforms by 2025.

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Story summary

Peter Steinberger, creator of OpenClaw and now with OpenAI, says Europe lacks successful tech companies.
He attributes this to cultural differences, noting the United States' enthusiasm and long hours versus Europe’s labor rules.
Steinberger cites ASML as the most valuable European company and says it is far behind U.S. tech giants.
A 2024 EU report acknowledged the lag and little progress toward reforms by 2025.