00:00Innovation is by nature uncertain, but you don't want to have extra uncertainty.
00:04So any extra source of uncertainty is not, you know, conducive to innovation.
00:10Innovators need to think long term.
00:12You see what I mean?
00:13I think they need a stable environment.
00:15We need fiscal uncertainty.
00:17You know, certainty.
00:19We need stability.
00:20You know what I mean?
00:21Instability is not conducive to long term innovation.
00:24You need, but, you know, we have to do with what we have and still there is some globalization.
00:32It's not the same as before.
00:34I think there is one good aspect to this is that Europe now realizes it has to innovate more.
00:41I think Europe has been the kind of sleeping beauty over the past 30, 40 years.
00:46You see, they thought they could rely on the U.S., on others, and not, you know, invest heavily in
00:53breakthrough high-tech innovation.
00:55And now the Europeans and defense, and now the Europeans realize, I hope, that they need to rely on themselves
01:01more than in the past.
01:03And they need to, you know, to reverse this technological decline they've been experiencing.
01:11I think it's amazing.
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