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UK Tech Sector Reacts To Brexit: Some Anticipate Slow Down, Some Contemplate Relocation
In the aftermath of the United Kingdom voting to leave the European Union, UK's technology industry is reassessing its position, with many of them considering moving to a continental location. According to reports, Samsung, LG, and Acer have noted that the UK leaving the EU will affect their operations. From a BBC report:As news of Brexit broke, tech firms including BT, TalkTalk and software firm Sage reported share price falls. [...] "I have concerns that the local market might slow down," said Drew Benvie, founder of London-based digital agency Battenhall. From a report on The Guardian:Britain's financial technology sector is particularly hard-hit, with the prospect of losing access to European markets an unappealing one. "Fintech" has long been one of the UK's most promising growth areas, in part due to London's position as the financial capital of Europe. [...] Not one of the 14 billion-dollar tech firms based in the UK the Guardian asked said leaving the EU would be good for their business.Toby Coppel, the co-founder of venture capital firm Mosaic, said: "The next entrepreneur who's 22 years old, graduating from a technical university in Germany may, instead of moving to London to do their Fintech startup, decide to go to Berlin instead. I think that's one of the biggest concerns I have about the trajectory of the London technical ecosystem."
"What happens when one of these collapses under the insanity of its economic idealism and the population takes refuge on the other?"
A poorly-run state is a disaster for its citizens, sure, but they made their own bed. Better a state fail than the entire republic. What happens when the insanity happens at the *federal* level because we've consolidated too much power and money there? Where do we take refuge?
"in the US being handled by for-profit private institutions rather than the state?"
It's funny that people are upset about Donald Trump's fraudulent for-profit "college" while Bernie "Everyone Gets a Free Horse!" Sanders keeps talking about "free" college courtesy of Uncle Sam: Trump (and the hundreds of others like him) gorged themselves at yet another multi billion dollar federal trough. And that's what always happens when the federal government starts subsidy programs to cure some perceived ill: corruption, inflation, market distortions, etc. The federal government has no business in the college game -- leave it to the states and private institutions and some sanity will return to the market.