What about ASML? NXP? Those tiny little Dutch companies that the entire rest of the world depend on to manufacture their microprocessors. Yes, they are "old" legacy companies as Phillips is too. But, damn, they just keep innovating the foundations of this world we live in. And then Siemens and Dassault Systems. Yes they're old but the entire world depends on their continued innovation of CAD-CAM and a giant range of products.

The delusion that America is somehow better at innovating because of the constant rise and fall of mostly software companies. Meanwhile, VW (often the largest manufacturer of automobiles in the world) has in a very short time reached #1 too in electric vehicle sales.

The recent pandemic has been stanched mostly by BionTech a German company founded by 2 Turkish immigrants.

But even more importantly, the world would be unable to manufacture these vaccines without the innovations (yes, slow and steady as it is in the hardware world) of one very key German company: GEA Group. And this leaves aside the range of German, Dutch, French companies with major roles in bio manufacturing.

Yeah, if you're just sitting on your island (US, UK) contemplating your mostly consumer and software navel, the world does look like you suggest. But the reality is very different if you actually know how things are made and by whom.

And, of course, this leaves aside the fact that so much of tech (from basic to cloud) was developed by Europe... of course, a lot with US capital. But that's another story.