Yep. Europe is socialist, which makes it extremelt difficult to start successful tech-companies. Europes unicorns is far fewer than what are created in the US and China.

As long as europe continues to heavily regulate and tax its citizens in the best socialist tradition, it will continue its decline, to become a tourist playground in a generation or two, for the rest of the world.

I always advice young entrepreneurs to move outside europe to start their companies.

In its current form, europe is dead.