European tech must keep pace with US, China: Meta's Clegg

Core Viewpoint - Europe is significantly lagging behind the US and China in technology and innovation, as stated by Nick Clegg, president of global affairs at Meta [1][2] Group 1: Challenges in European Tech - Clegg emphasized that Europe has a "real problem" in keeping pace with technological advancements compared to the US and China [1] - He criticized the perception that Europe's primary role is regulatory, suggesting that this has hindered innovation [1][2] Group 2: Initiatives and Investments - Meta is promoting a mentoring scheme for five European startups, providing six months of mentorship and access to facilities [2] - In 2021, Meta announced plans to create 10,000 jobs in Europe to support the development of the "metaverse" [2] - Despite significant investments in the metaverse, Meta has shifted focus towards artificial intelligence and has announced thousands of layoffs, including in metaverse-related teams [2]