From Dan Dees’ newsletter this week
There are decades where nothing happens, and weeks where decades happen – and 2025 increasingly feels like the latter. Since Monday, a flurry of US tariff announcements, tariff delays, and reciprocal tariffs from allies unfolded at a dizzying speed. Disorienting is an understatement – but there are silver linings amidst the chaos, and an opportune moment to inject some optimism and insights I heard on the road this week.
I left our 10th annual Disruptive Tech Symposium in London a little tired, and a little jet lagged – but quite encouraged by a palpable energy, even amidst the geopolitical fragility. As of yesterday, European equities have outperformed other major markets globally – including the US – as investors quickly re-calibrate their expectations and allocation weightings for the region. Consider this eye-popping stat: in the last decade, 10x more capital has been invested in European technology than the prior decade (and more invested just last year than the prior decade combined). The conversations with founders and VCs underscored the enthusiasm around the pan-European opportunities in both TAM and technical talent. And while Brexit birthed a complicated perception of the European Union and a decade of cumbersome regulations, the pervasive feeling across the conference this year was one of solidarity. Even beyond the technology sector, that unity was galvanized by recent geopolitical events and the noteworthy news of Germany’s plans for fiscal expansion – a potential inflection point for the broader region.
It’s starting to feel like this pace of change and level of uncertainty will only persist – and regions and countries outside the US will be increasingly influential in defining this new era. It will behoove us all to think locally and globally along the next leg of this journey.
Though the quote may actually be a Mexican poet.
Though this quote is pretty great too.