Wednesday 16 November 2016
In more Brexit good news, Google has signed up London to be the HQ of its European operations and this will create 3000 jobs by 2020 in London.
So they join Apple in backing the UK post-Brexit with expansion.
I really don't think we can underestimate the value of this. Lots of start-up Fintech companies have been thinking about moving to Berlin. Certainly the Germans want them there. Fintech is the future of financial services as the Big Banks suffer from strangulation by both regulation and zero-interest rates. Pensions funs too, long a source of wealth for their employees and owners at our expense, will not last in their current form once technology companies start empowering people to 'take control' of their own pension pots.
So having a tech base is really key to the future of the Country and the investment of the world's two best know companies provides good mood music.
Brexit, it seems, is going to take a long time to work out and to an extent the effect of this is to massively downgrade its impact in the eyes of businesses making long-term decisions; of course, this is the opposite of what hyped-up media like to report. Not understanding, business they think long-term uncertainty is bad. Of course this is not the case as no business really plans ahead for more than 5 years tops - anything that wont have an impact within 3-5 years is discounted. The things that really bother management is what is happening tomorrow and in the next quarter and it decreases in importance from there.
So, here we are, several months in, still no impact of Brexit or sign of it bar the currency effect which is a net positive anyway? Yet you wont read or hear this from many people - such is the power of cognitive dissonance.