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500 European tech startups say they will never be able to compete for talent with Google or Facebook thanks to the muddle around employee stock options

500 European tech startups say they will never be able to compete for talent with Google or Facebook thanks to the muddle around employee stock options
TransferWise



500 European startups, representing billions of dollars in value, are lobbying lawmakers to reform the rules around stock options.




They warned of a "brain drain" if Europe can't come up with unified policies to help startups attract the brightest talent to compete with Silicon Valley and China.




Stock options give employees the chance to buy shares in their company, and help startups compete for talent against bigger companies.




Europe has yet to produce its own Silicon Valley-style tech giant, and investors and CEOs believe fierce competition for talent is one reason why.



European startup CEOs representing billions of dollars in value are lobbying lawmakers across the bloc to consider reforms to the rules governing employee stock options, so they can attract better talent and compete with Silicon Valley.
Around 500 chief executives from startups such as Stripe, TransferWise, Clue, Supercell, and BlaBlaCar have signed an open letter, which is being sent to European policymakers this week.
There are a further 200 signatories from the wider tech ecosystem, such as venture capital investors. Collectively the 500 startups are worth billions of dollars, and the top 12 alone are worth $35 billion.
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