The problem Europe has isn't that they lack money, the problem is that all the things US tech companies do to get ahead are illegal in Europe. Out of FAANG, European regulators are decidedly against the F/G and probably have reservations about at least one of the As. I wouldn't feel off guard if it turns out Netflix were impractical in the EU due to challenges both regulatory and linguistic.
This is such an absurd view. If they did illegal things they would not be able to operate in EU. While some expectations of what is considered acceptable or not have changed in Europe in meanwhile, it doesn't mean they were illegal in the first place. The second point you make is a true problem, the market is fragmented by too many regulations so the cost of establishing a company to the full EU is much greater than…
The arm of the law might not catch everything, and when it does work, sometimes it works slowly.
Companies like Uber and AirBnb got ahead by skirting the law, and had to change their products in some European countries (like Spain) because lawmakers eventually saw what they were doing. AirBnb are now required to ask for tax ID, and Uber had add artificial delays in order to fit within the law that existed. But when they initially launched, they didn't do these things, it was only after pressure that they changed.