‘Lack of innovation’: French President Emmanuel Macron expresses concerns over Big Tech takeovers

French President Emmanuel Macron, in an interview with CNBC, expressed concerns about the growing dominance of Big Tech companies and their potential impact on European innovation. Recognizing the role of mergers and acquisitions in the business world, he stressed the need for greater technological independence in Europe.

Macron lamented Europe’s lag behind the United States in technological innovation and economic growth over the past three decades, attributing the discrepancy to “the lack of innovation and the diffusion of innovation, particularly in the technology sector.” He celebrated the success of domestic companies such as Mistral AI, which has entered into cooperation with Microsoft, but expressed his will for these companies to “gain independence and develop on their own.”

Macron’s comments come at a time when Big Tech companies are increasingly taking over promising European tech startups. When asked about the hypothetical scenario of Mistral AI being acquired by Microsoft, Macron stated that “it is not automatically good news and I would prefer them to become independent and develop on their own.” He warned of a future in which the technology landscape is dominated solely by Chinese and American giants, stressing the need for “many more large European players.”

Macron believes that unchecked Big Tech takeovers could stifle innovation in Europe. He said that “anti-innovation mergers and acquisitions”, in which companies acquire start-ups primarily to absorb their technology and talent, could hamper the development of “a very vibrant, vibrant and ambitious European ecosystem”.

Macron’s comments reflect his vision of a Europe that is not only a consumer of technology, but also a producer of breakthrough innovations. He stressed the importance of supporting a “Choose France” environment that encourages domestic talent and investment, with the aim of creating an ecosystem in which European companies can develop independently, competing internationally with established technology giants.