EU is way behind US and China in tech?

My assumption is that the counting of companies valued over 1 billion is due to the mentality of the USA where companies need to always grow, capital needs to accumulate, that bigger is better, and everything must go towards that growth. This makes sense from a lens that the USA in all its history has always grown, either west, or in development.

This is different to the European mentality in that everything is not about work and that companies don't need to grow to become gigantic. This also goes to the way the countries are governed, the laws in place, and the companies that come out of it.