This Week in European Tech: Exit Taxes, AI Reality Checks & The New Tech Sovereignty Race

Welcome back to another episode of Upside at the EUVC Podcast, where ⁠Dan Bowyer, ⁠Mads Jensen of ⁠SuperSeed⁠, and ⁠Lomax Ward of ⁠Outsized Ventures⁠ unpack the headlines reshaping European venture.

This week, the trio dives into the UK’s blink-and-you-miss-it exit tax, China’s rising open-source AI threat, hyperscaler accounting drama courtesy of Michael Burry, Europe’s supply-chain vulnerabilities — and why kill switches might soon matter as much as CapEx.

Here's what's covered:
08:42 The enterprise AI “nothingburger”: why progress is slower than adoption claims.
10:31 Nexperia: Europe’s dependence on Chinese chip packaging exposed.
11:55 The four–six week fragility window in Europe’s automotive supply chain.
13:47 EU formalises 5G vendor bans — the €3B Huawei/ZTE rip-out begins.
17:12 Dan vs. Alex Karp: “word salad” or visionary govtech architect?
20:34 Palantir’s privacy architecture: why governments keep choosing them.
23:28 Markets wobble: Nvidia leads the downturn; Apple stands alone.
28:14 Hyperscalers’ depreciation trick: why Michael Burry calls fiction.
35:12 Anthropic cyber incident: Claude “jailbroken” via social engineering.
38:27 Chinese kill switches in European buses — and what comes next.
47:55 Deals of the Week: BillionToOne’s $5B IPO & Pfizer’s $10B GLP-1 grab.
50:42 Gamma raises $68M: the Office Suite disruption finally begins.
51:58 Web Summit vs Slush: one’s corporate, one’s founder-first