In this video piece, I explain the challenge before web businesses as we see a redesigning ecosystem in the web industry. As Europe begins a new era with GDPR, many American companies will give Europe its version of their products. Because Europe does not create these huge companies, it would regulate itself into irrelevance. Yes, Google will have EU version. Facebook will do same. And likely because of GDPR, no European web company will emerge in years because in a world of anything goes, EU startups cannot compete.
China has the “passwords” of any Apple app customer in China. Yet, Apple will preach that it cares about privacy in America. Do not be fooled. None of these companies care. They are unified by alpha – making money. And governments would make it easier because very soon starting web business will be more challenging because of rules and regulations. Who benefits whent such tough rules are enacted? The incumbents. That is why there are parties in Google, Facebook and members of the species.
If you check the largest 50 European companies (by revenue), you would struggle to find any created in the last 30 years. But in U.S. and China, such breeds abound. There is a reason: European laws are fixing problems users do not care. Africa should not copy them.
1. Advance your career with Tekedia Mini-MBA (Sept 13 – Dec 6, 2021): 140 global faculty, online, self-paced, $140 (or N50,000 naira). Click and register here.
2. Click to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with a minimum of $10,000 investment.3. Register and join me every Saturday at Business Growth Playbooks w/ Ndubuisi Ekekwe (Sept 4 – Oct 23, 2021), Zoom, 4pm WAT; costs N20,000 or $60.