I would also argue that in the US, startup funding and entrepreneurship is a lot more available to people considered to be "inexperienced in business" by tradi

I would also argue that in the US, startup funding and entrepreneurship is a lot more available to people considered to be "inexperienced in business" by traditional banks, leading to creative energy in Europe instead flowing into more artistic endeavours. Also, note how the vast majority of demoscene groups were in Scandinavia, places with long winters.