"Count on me so that in France the meat remains natural and never artificial", declared our Minister of Agriculture in reaction to the announcement of the marketing of cultured meat [in vitro, editor's note] by a start-up from Singapore.

At a time when the regulation of Gafam seems to have sounded, European decision-makers deplore the American domination as much as Chinese on the digital one and wonder why we do not have a Google or a European Facebook. But to pose the problem in these terms is to pretend to want to run before having learned to walk.

Read the full Les Echos article.

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Thomas Philippon is Max L. Heine Professor of Finance.