🚨 NEW: Elon Musk on European Overregulation “Europe is over regulated. There are too many rules and regulations that make it very difficult to create a company. They’re doing too much to protect large companies at the expense of small and medium size companies. The net result is you have a large amount of very small companies and a small amount of very large companies, but then not much in the middle. There needs to be a way to go from being a small company making great services and products to scale to ultimately become a big company. But you have regulatory capture by the large companies in Europe, who don’t want to reduce the regulatory burden. They like the fact that the regulations protect their duopolies and monopolies in some cases. It’s up to the government to say that they want to foster small companies and reduce regulations because the regulatory situation in Europe is stifling. Brussels is amplifying that greatly. You have the country regulations and then you also have the EU regulations. There’s so many regulations in Europe that it makes it extremely difficult to start a company and be successful. I think radical deregulation is necessary in Europe. And if that means leaving the EU, it means leaving the EU.”