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Because the best European startup move to US early, and they become US companies. Because they can't find as much funding in Europe as in US.
That’s about it.
The article is spot on: imagine two startups, one in Barcelona and another in Boston, developing a very similar product. The first one raises €2M, the second one $50M. Which one is going to beat the other to market?
Yes, there are other factors; work/life balance, heterogeneous markets/languages, collaboration vs competition mindset, etc. But here in Europe we also have workaholics that give 200% to their startup and launch internationally. And without cash injections, which are a by-product of ecosystem maturity, they will always lose against their USA competitors.
Disclaimer: am European founder in seed stage
There are, according to the graphics, "4 startups per million people in Paris". There are 2.2 million habitants in Paris (source: https://en.wikipedia.org/wiki/Demographics_of_Paris), and we have hundreds if not thousands of startups (source: http://www.techonmap.fr/). The numbers don't match.
EDIT: Well, that isn't the sole reason, but it is a reason the gap may become wider. The GDPR is a compromise I -as European- am more than happy with.
... yea because the industrial design inherent in ARM holdings or the original iPod or iPhone or Olivetti design or SAP... (Sigh) Why can't Bloomberg do real research?
Is this article satire? Conflating inflated valuations, VC, and tech? I thought Bloomberg was a serious source. https://www.epo.org/news-issues/news/2017/20170307.html Europe's potential in terms of innovation and technology is also highlighted by the number of European patent applications filed relative to a country's population. Switzerland again topped the ranking in 2016, with 892 applications per million inhabit…
Maybe because most Europeans are happy with a good work/life balance, and don't constantly obsess about pipe dreams that come through for one in a million people? Obviously such obsessives exist, but I bet they are a lot less common than in countries with a, let's say, get big or go home attitude. Also, state funded safety nets means it's less urgent to have $lots saved up to survive the next crisis.
Speaking as someone from Europe...
I don't have any first hand experience, but when browsing HN or Reddit, developer salaries above $150k seem to be the norm [1], not the "one in a million people" exception. As you may know, such salaries are unheard in Europe. It seems to me that becoming financially independent in the US is a matter of years [2], not decades. Sometimes it really makes me depressed. Also you seem to overestimate the safety nets. Putting 3-4 months of US paychecks away in a savings account will put you ahead of any safety net in Europe.
[1] Yes, i know, cost of living in places like NYC or SF are not comparable to major European cities, but even when factoring higher costs of living, becoming a millionaire seems rather doable.
[2] If you don't spend your money lavishly.
Not so sure about the data presented in the article. There are, according to the graphics, "4 startups per million people in Paris". There are 2.2 million habitants in Paris (source: https://en.wikipedia.org/wiki/Demographics_of_Paris ), and we have hundreds if not thousands of startups (source: http://www.techonmap.fr/ ). The numbers don't match.
Maybe because most Europeans are happy with a good work/life balance, and don't constantly obsess about pipe dreams that come through for one in a million people? Obviously such obsessives exist, but I bet they are a lot less common than in countries with a, let's say, get big or go home attitude. Also, state funded safety nets means it's less urgent to have $lots saved up to survive the next crisis.
>state funded safety nets Ding ding ding: this is the answer: those safety nets are also a cage. Disclaimer: have started many businesses around the world, including the US and Europe. Europeans don't proceed to the glory and glamor of US startups because they have to deal with government bureaucracy, and alas such bureaucracy is contagious. The moment you wade into the grant-getting territory, you become a grant-get…
If you're referring to the safety net that you get government money after you get unemployed, that's to ensure that you don't become homeless or get lured into crime. It has reinforcement to get you back to work ASAP.