> Existing European companies are much more protected than their US counterparts That's a complete myth. The USA affords a lot of direct and indirect protectio

> Existing European companies are much more protected than their US counterparts That's a complete myth. The USA affords a lot of direct and indirect protection to its companies, far more than Europe does usually. You have things like the "Buy American Act" ensuring US companies don't face external competition for public markets, a different system of measures and crucially norms slowing the entry of external actors and a strong cultural emphasis amongst the population on economic patriotism and buying American which mostly doesn't exist in Europe.