Europe already produces world-class technology companies. The mistake is assuming future winners will look obvious before they become winners.

In this episode of This Week in European Tech, Dan Bowyer and Mads Jensen of SuperSeed speak with Joe Schorge, Founder and Managing Partner at Isomer Capital, about why the best investors focus less on predicting outliers and more on building exposure to exceptional founders, technologies and ecosystems.

Joe shares why Europe's next trillion-dollar company is probably already operating today, what Amazon and Google teach us about identifying future winners and why diversification remains one of the most powerful tools in venture capital.

The conversation also covers AI sovereignty, Anthropic's model shutdown, DeepSeek's $7 billion round, Mistral's latest raise and Europe's position in the global AI race.

Key highlights:

Why Europe's next trillion-dollar company probably already exists
Why future winners rarely look obvious early on
The LP case for backing ecosystems instead of chasing predictions
Lessons from Amazon and Google
Why Europe already produces world-class technology companies
Why tech sovereignty depends on world-class products
DeepSeek, Mistral and the future of AI infrastructure
Whether Europe can compete with the US and China in frontier technology

Timestamps

(00:00) Introduction
(05:00) Why Accenture matters for the future of AI adoption
(12:00) Anthropic's model shutdown and AI sovereignty
(15:00) Why tech sovereignty is creating opportunities for European startups
(20:00) AI alliances, geopolitics and Europe's position
(26:00) DeepSeek's $7 billion funding round
(31:00) Mistral's next chapter and Europe's AI ambitions
(35:00) Can Europe build a trillion-dollar technology company?
(38:00) Why future winners rarely look obvious
(40:00) Europe's world-class technology companies
(41:00) Isar Aerospace and European winners
(42:00) European tech deal of the week
(43:00) The week ahead in AI and venture

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Europe's next trillion-dollar company won't look obvious

EUVC

Europe's next trillion-dollar company won't look obvious