By SIMON CONSTABLE
Something odd happened almost three decades ago. Startup web-browser company Netscape went public, delighting investors despite having no profits. This event, on August 9, 1995, prompted one of the biggest global economic shifts since the industrial revolution. Over the last 27 years, web-based businesses have become behemoths worth billions of dollars: Amazon, Meta, Alphabet, Alibaba, Tencent, Baidu, Netflix. Yet the overwhelming majority of these big tech companies come from just two countries: the US and China. Other countries, such as those in Europe or Asia (excluding China), lag hugely. Read more here.
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