It's hard explaining to people what exactly google does for so much money. Europe is more "feet on the ground" when it comes to business in general. What does google sells by the way ? Ads, android (which is mostly open), internet services... it's hard to really tell. In europe, technologies and research will often rather belong to the public sector than the private sector.
The silicon valley is a typically american thing because US business laws and the culture allow it. In europe it just won't. The only way you can really thrive as a programmer in europe, is by doing open source, and Torvalds is a good example of that, so by a loose definition it's only accessible to people who spent a lot of time in universities. There are no other way you are going to do business and getting money typing code in europe. It just won't happen.