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I don't think that is correct.

One of the biggest problems with the European business environment is that it's primarily set up to cater to big European tech companies, largely at the cost of smothering smaller companies.

Problem is most of these companies are so old they date back to the industrial revolution, making a company like IBM look like a spry startup by comparison. This includes old dragons like Siemens, Ericsson, ABB, Bosch. SAP is perhaps the odd one out, being only 53 years old.



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