The ignorant VC

partial summary:

Euro is conservative, US is aggressive, fly by the seat of pants.

Euro startups do prove, build, scale. They are good at prove and build, but they are recalcitrant about providing the funding that will allow a proven idea to really scale well.

US skips directly to the scale stage, even with a donkey like cuil.

So, US is at a disadvantage in early stages because ramp up too fast, but euro is at a disadvantage once they have a horse worth backing. Both US and Euro have a lot to learn from the other.