I think it is pretty much for the same reason why there are relatively little startups in Ohio or Wisconsin or South Dakota or younameit compare to the bay area

I think it is pretty much for the same reason why there are relatively little startups in Ohio or Wisconsin or South Dakota or younameit compare to the bay area. There's a nice piece from PG online where he counts the most common reasons why people do not start startups. The first 10 are, on my view, very personal: 1. Too young 2. Too inexperienced 3. Not determined enough 4. Not smart enough 5. Know nothing about business 6. No cofounder 7. No idea 8. No room for more startups 9. Family to support 10. Independently wealthy The last 6, which apparently are the most powerful inhibitors, are rather "social" IMO 11. Not ready for commitment 12. Need for structure 13. Fear of uncertainty 14. Don't realize what you're avoiding 15. Parents want you to be a doctor 16. A job is the default I believe these latter are particularly influential in most European countries.