This is brutally true in Spain as well. I used to love everything I read about startups, being lean, iterating, etc. But seeing Valencia/Spanish startup ecosyst

This is brutally true in Spain as well. I used to love everything I read about startups, being lean, iterating, etc. But seeing Valencia/Spanish startup ecosystem... yikes I have only seen up close one startup (out of dozens) with actual profit that could sustain itself if VC money was to withdraw. From my University friend who I always though he could do it.