Comment by oblio

There are sooo many confounding factors that it's not even worth discussing.

The EU is a patchwork for 27+ small countries. There is no unique digital market. There are 27 languages to cater to. 27 different cultures which are radically different compared to say, Texas versus Maine. General risk adverse culture after WW1 and WW2 where there are no VCs, even though for sure they could make money and Europe is full of tax loopholes they could use...