Nicolai Tangen, chief executive of the $1.6tn fund, told the Financial Times it was “worrisome” that American companies were outpacing their European rivals on innovation and technology, leading to vast outperformance of US shares in the past decade.
“There’s a mindset issue in terms of acceptance of mistakes and risks. You go bust in America, you get another chance. In Europe, you’re dead,” he said, adding that there was also a difference in “the general level of ambition. We are not very ambitious. I should be careful about talking about work-life balance, but the Americans just work harder.”
He added that in recent discussions with US chief executives, they had complained about the difficulty of doing business in Europe because of tough regulations and red tape.
“I’m not saying it’s good but in America you have a lot of AI and no regulation, in Europe you have no AI and a lot of regulation. It’s interesting,” he added.
@ISIDEWITH2mos2MO
Do you think the pursuit of ambition and success should come at the cost of personal time and work-life balance?
@9LTGHXSAlliance for Germany2mos2MO
If achievable, the upper class ideally should only persist if they actually give in effort (as stated in the American dream). However, it is still important to keep a background check on how the upper class received their riches. (Remember that one time almost every rich person has been exposed of having gained their power through criminal activity and nothing happened in context of said exposition?)
@ISIDEWITH2mos2MO
@ISIDEWITH2mos2MO
@ISIDEWITH2mos2MO
@ISIDEWITH2mos2MO
