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Comment by michaelscott | Hacker News Reader

There is plenty of capital (eye watering amounts in most family offices in fact) and world leading expertise in many fields across Europe. The only factor here is more risk appetite and a culture for that risk in an effort to push industry forward. Europe is incredibly risk averse and is more interested in capital preservation than growth

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> Europe is incredibly risk averse and is more interested in capital preservation than growth

There exist quite a lot of people in European countries who are risk-affine, but these are not necessarily good at handling the insane amount of red tape.

Believe me: in Germany, there exist quite a lot of people who would (assuming they could, and this criminal act will never be solved) immediately love to kill the politicians who made these red tape laws, and the bureacrats that enforce them.

I can believe this. I've spoken to many European entrepreneurial types that are really struggling with the red tape handcuffs in their countries, and those are people who actually have EU citizenship and for whom the red tape is as lightweight as possible. Being a non-EU in EU is a whole other ball game.

It's sad, because Europe really has a lot going for it. It also doesn't HAVE to go the US/China route of course, but if it does it will need to make some very serious changes that go beyond just preaching about doing it from the political pulpit

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