..Europe has unicorns, such as Sweden’s Spotify, the UK’s Asos, and Germany’s Zalando and Rocket Internet. But they have not become, he says, indispensable internet platforms. They do what they do brilliantly, but none is a Google or an Amazon.
As Mr Robinson explained, in the US, the value of the three biggest listed internet companies, businesses whose creations have become platforms in their own right, is $1.3tn. In Asia, it’s $583bn, In Africa (yes, Africa) it’s $76bn. In Europe, however, our top internet companies, including Russia’s Yandex, are worth $20bn...
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