> Europe's most ambitious entrepreneurs leave for silicon valley because audacious ambition is heavily discouraged culturally.

Good. We've all seen Silicon Valley.

We'll keep our Engineers, Scientists, and large inter-union projects and organisations like CERN.

> Europe has many talented engineers and many founders who aim for "reasonable" success, but that's really not sufficient

Not under a US metropolitan HCOL existence, sure. For most in Europe, however, wealth-generation isn't the metric of success or human worth. Work-life balance is of significantly more importance than the higher-compensation/'at-will employment' trade-off.