Everyone here blaming the costs of living in London being a major driver for people looking for security: SF is not cheap either!
I don’t think you can boil it down to that only.
What can be others fundamental reasons? also for Europe in general?
I don’t think you can boil it down to that only.
What can be others fundamental reasons? also for Europe in general?
Focus on more traditional sectors and a general fear of software solutions (partially justified since many software things are net negative).
First mover advantage for the US as the country that invented the transistor, the social media, internet, etc. Especially in this era of Extremistans (see: Black Swan), being first is super important.
Oh, and this isn't talked about enough, US protectionism (and focus on locally produced things), look at all the efforts to keep jobs in the US, to keep Chinese companies out, etc. As an example, even when Apple was crap in the late 90s and early 00s, it still had relatively high percentages of the desktop/laptop market compared to the rest of the world, just because it was the poster-boy of US computer companies. It's more subtle and it's imperfect (see the steel and auto industry being overrun by foreign companies).
It's very complicated, but 1 & 2 are probably the biggest factors.
I think startup salaries in SF are higher compared to the cost of living, though. There are startups in London that pay £50k or less to new graduates.
Normal LONDON salaries are 30% of a London apartment.
Normal British salaries are 10% of a central London apartment, at best.
There's a big difference. You can save up as a USian and start a job in SF. You cannot reasonably do the same in Britain.