Because Europeans are waaaay more risk averse. Just look at our car industries and their non-response to Tesla over all the years.

We have completely lost visionary people ever since the fall of the USSR. Our politicians are mere managers (and often enough, they're extremely bad even in that role), our economy leaders largely only care about their own bottom line, and while our universities generally churn out decent graduates, they completely dropped the ball on innovation, research and actually retaining staff - made more difficult by the fact that we don't have absurd amounts of money sloshing around from donations, estates and other sources.