3 ms·
Interestingly that's a popular myth. Much of Europe - especially Scandinavia - is much friendlier to startups than the US. The proof is the much higher social m
by TheOtherHobbes 4y ago
Interestingly that's a popular myth. Much of Europe - especially Scandinavia - is much friendlier to startups than the US. The proof is the much higher social mobility.
What the EU lacks is the Ivy->Startup pipeline and insider/investor networks with access to old and old-ish money. And also the relentlessly aggressive branding and self-promotion (and tolerance of scamming and grifting) that defines US hustle culture.
If you're not in or around those networks already your chances of success in the US are pretty slim.
https://www.brookings.edu/wp-content/uploads/2016/07/02_economic_mobility_sawhill_ch3.pdf https://www.brookings.edu/wp-content/uploads/2016/07/02_econ...
- zamnos 4y agoThe EU also lacks the equity compensation pop that makes people millionaires overnight after 10 years of hard work. It's largely cultural rather than regulation related, but for example Spotify IPO'd but minted few millionaires relative to if it had been a silicon valley startup like AirBNB or Dropbox or Slack.
- WeylandYutani 4y agoYes this is exactly it! America is a great place to be rich. In Europe they tax you. But why should a millionaire care about healthcare for the poor or homeless shelters?
- marcus_holmes 4y agoThe recent discussion on Slack's stock options showed how few SV startups make employees millionaires these days. It's as rare in SV as it is in Europe now.