On the contrary, I think you'll find raising money is equally difficult in, say, London. I know some well-connected people, with a track record of previous succ

On the contrary, I think you'll find raising money is equally difficult in, say, London. I know some well-connected people, with a track record of previous successful businesses and exits and connections throughout the VC/angel community who still struggle to raise seed funding for pre-revenue ideas (even some which are showing traction). Compare that to the Valley, where it seems that the main test of whether you can raise money is to put a mirror in front of your mouth and check that some water vapor condenses on the mirror (if there is no water vapor, the entrepreneur is dead. do not fund)...