I don’t think it’s just a question of money, as far as Europe goes it’s still also very much a question of the legal and cultural “frameworks” that inhibit SV s

I don’t think it’s just a question of money, as far as Europe goes it’s still also very much a question of the legal and cultural “frameworks” that inhibit SV style ecosystems from forming. The availability of cash is a factor for sure but it’s not necessary the main cause. And you can see this with some of the less developed European countries where the lack of incumbent large employers, large unions and as well as a weaker social security net do often lead to them being more entrepreneurial than some others. And it’s also very important to distinguish between “tech” and startups. Ireland been very successful at attracting large tech companies but it’s startup scene is still pretty poor. Whilst Eastern European and Baltic states are somewhat opposite. On the other hand you have countries like Israel that managed to attract both whilst being pretty much at risk of war since it’s inception. It’s also important to note that there are many paths to success, Europe found a path even if it doesn’t include startups at the same level as the US or other countries. And while it’s also clear that in some cases it does hurt them in the long term as evident by the current dominance of US tech giants it doesn’t mean that the only way out of that is to adopt the SV model.