As a very broad generalization, Europe treats businesses as businesses, rather than financial instruments. They are expected to grow and be profitable, rather than be fattened like cows for an eventual slaughter.

That's why Europe has thousands of "small" companies whose revenue might "only" be a billion dollars or so, but they are sustainable companies who generally have accrued a competitive global advantage through years, and decades of R&D. The end result of this is that Europe - certainly Western Europe, and increasingly Central and Eastern Europe - has one of the highest standards of living in the world.

Sure, the VCs and investors who only want to make money without producing anything of value themselves don't like this model, but fuck 'em.