IMO the EU is too protective of its economy to allow the kind of innovation Silicon Valley is famous for. The EU has a default assumption of "you have to prove that this will not be harmful before you can do it" where the US has a default assumption of "someone else has to prove that this will be harmful before we will stop you". The important part is that this burden of proof in the US is not placed on a company at a time before they have revenue to prove it. By the time they're big enough to have to defend themselves from an attack on regulatory grounds, they have the means to do so.

Something like Uber could never have come out of Europe. A large company that is breaking the law while competing with regulated taxis and remaining unregulated themselves? That would never fly in the EU, and Uber has met a lot more resistance there than the US. They're only able to address the EU market because they have a large, profitable base in the US.

In any measure, the regulatory culture in the US is much more laissez-faire than the EU. In the US, you can do whatever you want as long as it's not explicitly illegal. In the EU, you can do whatever you want, as long as you prove that it's not illegal first. It's a huge difference, and it's one of the biggest cultural differences between Europe and the US.