Certainly; while regulations will no doubt play a role, the fact that the EU is so much less homogenous (not just in terms of regulations) also plays a major ro

Certainly; while regulations will no doubt play a role, the fact that the EU is so much less homogenous (not just in terms of regulations) also plays a major role in making it harder for companies to scale. Then again, I could also see that being an advantage. For example, TakeAway.com was one of a number of European companies able to quickly capture their local market. They could independently gain a foothold, and only then did consolidation start. In a more homogenous market, a big player might be able to quickly drown out stronger players with more unfortunate timing.