In a lot of European countries, a robust social safety net is the great equalizer. You don't get locked up to work in order to afford healthcare, food, etc. - and are thus more free to take chances. Furthermore, strong labor laws have compressed salaries towards the mean, so people are not locking themselves into poverty by working low-wage / low-skill work, but there's a difference enough that people are incentivize…
> You don't get locked up to work in order to afford healthcare, food, etc. - and are thus more free to take chances. If Europeans are more free to take chances, why is there substantially less innovation in Europe? I don't think Europe is "worse" than the US. I think Europe is optimized for the poor whereas the US is optimized for the middle class and above. There are good arguments for both of these situations. In…
Europe has also been lacking a proper VC scene and culture, but this seems to have changed more in the past years.
So, don't expect the next 20-30 years to be identical to the previous decades.