Ask HN: Why is venture capital big in the US but not in the EU?

A slightly broader question: why does it seem that American capitalists are more entrepreneurial, whereas EU capitalists are more risk averse? If American capitalists are making such great rewards by being more daring, why aren't EU capitalists learning from this and following suit? Or one could similarly ask, why are American capitalist not as financially conservative as EU capitalists? Or ... are they? Are EU capitalists just as daring, but they only invest in US entities? Is that it? If so, why?