As a fellow European, I disagree that we have built in common features - unless you think "European" means your country and its closest relatives. If we all had the same culture, the EU wouldn't probably be in its slow bureaucratic slump.
On topic, don't underestimate the power of faith. Humans are not rational beings by default, so powerful narratives about the hot shots of SV really do have an effect in inspiring the next generation of SV hot shots. Yeah, it might be a bubble waiting to pop, but it also might be the fastest economic and technological growth the world has ever seen.