Britain does a bad job at keeping globally relevant tech firms, former Arm CEO says

Published On Sep 10, 2024, 6:30 AM

Warren East, the former CEO of Arm, criticized the UK's performance in global tech commercialization during his speech at Cambridge Tech Week. He highlighted that the UK suffers from poor economic growth and a tendency for successful tech firms to relocate or list their operations abroad. East emphasized the need for greater 'risk appetite' among UK investors to support the scaling of local tech companies as many innovative technologies are developed in the UK but exploited overseas. He noted that there is a significant difference in investor behavior between the UK and the US, with the latter demonstrating a higher risk tolerance, influencing the success of tech firms.

Read full article

Stock Forecasts

ARMView ARM chart on TradingView

Negative

With the former CEO's statements spotlighting the limitations of the UK's tech sector and the need for changes in investment attitudes, companies in the UK tech market may struggle in the short term. If government and investors do not act quickly to enhance the ecosystem for tech commercialization, it may lead to a decline in domestic tech investments and further relocations abroad.

Related News

Britain does a bad job at keeping globally relevant tech firms, former Arm CEO says

Sep 10, 2024, 6:30 AM

Warren East, who led Arm between 1994 and 2013, said that too often tech firms in Britain move their operations overseas or list elsewhere abroad.

ARM