Labor market in Western Europe became so corrupted by leftist policies after the mid-20th century that it became basically anti-business. This affected startups

Labor market in Western Europe became so corrupted by leftist policies after the mid-20th century that it became basically anti-business. This affected startups the most, since businesses are most vulnerable in their startup phase. And the IT industry (unlike other old industries) was built almost exclusively by startups... Current idiotic policies (GDPR, USB-C charging) are just nails in the coffin on the inexistent European IT industry. The second necessary component was capital. Financial markets in Europe were heavily regulated and taxed, with investing and especially angel investing actively discouraged. The third component: universities were available in Europe as well. But without the first two parts the best and brightest europeans went to Silicon Valley to help build the US IT industry. Because the immigration policy (the final component) was significantly more open in the USA as well...