"On X, a professor from a European university asked why Europe couldn't retain this tech talent. Steinberger replied that most people in the US are enthusiastic, while in Europe, he's scolded about responsibility and regulations. If he built a company in Europe, he would struggle with strict labor regulations and similar rules, he added. At OpenAI, he said most employees work 6 to 7 days a week and are paid accordingly. In Europe, that would be illegal, he added."
"It proposed a series of changes to tackle the problem, but by the end of 2025, few of the recommendations had been implemented. Steinberger said he was hopeful about EU INC, an effort to create a single corporate legal framework to make it simpler to run a business across the region. But this seems to be "fizzling out," he wrote on X. "Watered down, too much egoistic national interest that ultimately hurts everyone.""
Peter Steinberger is joining OpenAI and relocating from Europe to the US to pursue tech opportunities. Building a company in Europe presents challenges due to strict labor regulations and regulatory attitudes that emphasize responsibility over entrepreneurial flexibility. At OpenAI many employees work six to seven days a week and receive corresponding pay, a practice that would be illegal in many European jurisdictions. Europe has few mega technology firms; ASML is the most valuable at about $550 billion while more than ten US companies exceed $1 trillion, mostly in tech. A 2024 EU report found Europe lagging in innovation. Efforts like EU INC to harmonize corporate law appear to be faltering.
Read at Business Insider
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