Problem is that EU is not comparable in any manner to the US. For one, where do you suggest the Silicon Valley of EU is? London would've been a decent bet except that they just bailed.
As someone else mentioned, capital is way harder to raise (meaning slower to market) - and then an underrated factor which is equally important is how easy or difficult is it to sell as a nascent startup. At least in my industry (cybersecurity) it has been very hard in the EU vs US in the earlier stages of product maturity.
Much like the parent comment, I don't see this changing anytime soon and I'm fully betting on the fact US will keep their dominance in tech.
Well, we shouldn’t just assume that Silicon Valley has to be a place. The lockdown showed that numerous companies can operate 100% remotely. And I got the impression that there’s always more money than startups.
Silicon Valley absolutely has to be a place and people will return to face-to-face social contact the minute that is possible. It is impossible to build long-term meaningful relationships on a 100% remote basis.
Wages are also strangely way, way worse in the EU. When you combine that with cost of living (and taxes) being far higher there, it's not a great recipe for growth.
As someone else mentioned, capital is way harder to raise (meaning slower to market) - and then an underrated factor which is equally important is how easy or difficult is it to sell as a nascent startup. At least in my industry (cybersecurity) it has been very hard in the EU vs US in the earlier stages of product maturity.
Much like the parent comment, I don't see this changing anytime soon and I'm fully betting on the fact US will keep their dominance in tech.