> For better or worse, here in Europe we are fond of business plans that somehow make sense. Blue sky “let’s launch this and I’m sure we’ll eventually find sufficient rent seeking or surveillance possibilities to one day make money” things don’t fly too well here.
As someone who once looked for investment in London, going to VCs and asking for money for consumer facing, million to one businesses aimed at 'revolutionising' the world will get the same reaction as having 3 heads. They do not have an interest in going for crazy moonshots at all, and are very unwilling to just give millions of dollars in funding to a startup in the hopes it could become the next Google or Facebook.
What they are willing to back on the other hand are 'boring' SaaS businesses usually aimed at the B2B market. Some sort of business inventory system or tax management one is more their speed/style, and something they'll probably back with tens of thousands of pounds instead.
So anyone who wants to make a world changing business or product will probably go to the US, or lose out to US based companies that can afford to pay millions in software engineer salaries and perks and marketing.
Of course, that's not to say the other factors aren't issues. People are very skeptical of those that go solo and try to setup their own business in Europe, especially if it doesn't involve some 'well known' field like a trade or retail establishment. And I guess there's probably a bit more ruthlessness in the states too, likely in part due to 'traditional' jobs not offering as much of a future as crazy moonshots.
But it's the funding that's generally to blame. VCs are way more conservative in Europe, and seem terrified of backing ambitious consumer focused businesses and products in the same way they are in the states.