Mike Privette: “Funding in Europe is growing, and that’s a good sign”

​“AI is not the product. It is the means to reach a goal. Smart companies no longer sell AI as the shiny object – they fold it into what really matters: resilience, growth, and solving problems,” says Mike Privette, Cybersecurity Economist and founder of Return on Security.

In our podcast conversation, Mike reflected on the changing landscape of security innovation in Europe. His lens is unique: he looks at cybersecurity not just through technology, but through economics. For him, the real story is not about hype cycles, but about how funding, entrepreneurship, and culture shape resilience.

Mike has lived in Europe for more than two years now and sees encouraging signals. “The US still dominates global funding, but European investment is growing steadily. Combined with the AI wave, that’s enabling more companies to start and scale locally.” For him, that’s not just a financial fact but a sign that Europe can begin to chart its own course.

From hype to economic reality

Still, he thinks Europe has work to do. Entrepreneurship should be celebrated more openly, both culturally and politically. “Entrepreneurs create businesses, jobs, and value. They also leave companies to start new ones, creating a virtuous cycle. Europe needs more of that, and it needs to be supported financially and socially.”

AI plays a central role in this new dynamic. Mike describes it as unavoidable: to build a business today is to use AI. Not as a differentiator, but as a baseline. “It’s just assumed now – of course you’re using AI. The smart ones don’t hype it, they embed it where it really drives outcomes.” That shift, from AI as marketing buzzword to AI as invisible infrastructure, shows a maturing industry.

He also highlights the rise of sovereign AI initiatives in Europe. While promising, he argues they require much more scale. “Anything we do here needs a 10x push. It’s not enough to have microcosms – Europe needs clear stances and coordinated investment if it wants to compete globally.”

AI as invisible infrastructure

At Cybersec Netherlands, what struck Mike was the balance. Unlike other global conferences where AI dominates every booth, here it was almost understated. “That may actually be a good sign. It shows that AI is not the story in itself. It’s baked into the products, assumed as part of the solution. That’s the maturity we need in cybersecurity.”

Innovation in security, seen through Mike’s economic lens, is not about shiny technologies or even technical breakthroughs. It’s about creating the conditions where entrepreneurs can thrive, funding can flow, and technologies like AI are used wisely. Only then can Europe build the resilient future it talks about.

​This podcast episode was recorded during Cybersec Netherlands 2025, where we set up a studio on the exhibition floor with Security Innovation Stories. For two days, we gave pioneers, CISOs, and innovators the stage to share their visions and innovations. This conversation is one of the 14 inspiring encounters we captured there – all with the same goal: to show that security is not only about threats, but also about renewal, collaboration, and seizing opportunities. While the other episodes in this series are in Dutch, this one is available in English.