Do you have evidence for that at all? Because it sounds like bollocks to me. The more obvious factors are almost certainly the case - more complex regulatory e

Do you have evidence for that at all? Because it sounds like bollocks to me. The more obvious factors are almost certainly the case - more complex regulatory environment, smaller market, a lower concentration of capital sloshing around than in SV… and myriad other reasons. Blaming this on an artificial 'European' culture is facile.