I suspect that for the next several months, Europe will be more focused on surviving the winter than in unicorns. Even without this, it doesn’t change the fund

I suspect that for the next several months, Europe will be more focused on surviving the winter than in unicorns. Even without this, it doesn’t change the fundamental problem. In the USA you have a relatively homogenous market of 330 million people. Europe is split into dozens of different countries/languages/cultures/regulations. This greatly increases the cost and reduces the upside of a startup.