I don't agree with everyone in Europe wanting to innovate more. I'm a Bulgarian citizen and from my PoV a small group of people only want to innovate. One good thing that I've noticed is that the snowball here is slowly spinning up - we have a good university trying to be on a IVY league level as much as it can (for Bulgarian levels it's good, for EU maybe just about average) which teaches people tech or whatever they want to learn. Some part of them have really sharp skills. But a big portion of them don't really care about innovation, they still have the mindset of their parents/grandparents which is: I get my bachelors, I maybe get a masters, I work one job for the rest of my life and that's it.

I'm more a fan of the EU because I think these sorts of regulations are good. The thing they do wrong here is that they do it slow. E.g. they introduce the universal USB-C port, companies won't be motivated to innovate on that tech since they know it'll take ages for the EU to update the law. So after all yeah finding a sweet spot of course is the best, the thing is that we don't know how to find it.

I don't think that creating a web based word processor, cloud storage and an email hosting service is something that is impossible for a whole continent to do. Especially considering that o365 isn't exactly the gold standard when it comes to software quality.