Innovations in the US and China have largely overshadow Europe's tech scene, but now thanks to supportive government policies and a surge of private capital, the sector is set to take off.

In many sectors such as e-commerce or online streaming, growth basically just accelerated by 3 to 5X compared to 2019, for instance.

I'm Allison Nathan, and this is exchanges at Goldman Sachs.

We'll dig into the drivers behind Europe's digital acceleration and who's investing in them.

We'll also look at how geopolitical conflicts and a rising rate environment are affecting the pace of digitization.

To do that, I'm joined by two of my colleagues in are affecting the pace of digitization.

To do that, I'm joined by two of my colleagues in Goldman Sachs research who are based in London.

Lisa Yang, who leads the European media and internet research team, and Alexander Duval, who covers the technology and hardware industries.

Lisa Alex, welcome to the program.

Halison, thanks for inviting us.

Thank you so much.

Lisa, let's first start with the basics.

Describe what Europe's digital economy looks like today

and where it stands compared to Asia and the US.

Historically, I don't think Europe has been

this lead known for its tech and internet industries.

When we think about Europe, we think about its rich industrial heritage.

You know, it has global leaders in autos, luxury goods has some of the biggest oil and gas companies in the world

but when it really comes to tech at internet I just think that Europe has

historically been lagged especially North America and Asia when it comes to being a home for big tech

companies and clearly it doesn't have super platforms comparable to the fangs in the US or the bats in China

for instance. And I don't think Europe has an innovation hub like you know the

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