Earlier quoted context omitted.
Also yes, because it's easier to start in a jurisdiction with sane laws and bearable tax burden, none of which is available in the EU. EU is indeed drowning in mind boggling bureaucracy. Source: am a startup in the EU.
If it was merely about taxes and regulations then nobody would want to choose California over almost any other state for their startup.
https://wallethub.com/edu/best-worst-states-to-be-a-taxpayer...
You also want to consider what your taxes fund – for example, a startup founder probably benefits from proximity to two of the best university systems in the country and the better quality of life means you get more top people in your employee and networking pools. The ultra-rich are going to leave but a founder who isn’t already in the top income bracket is making an economically rational decision.