>The result is that European hi-tech entrepreneurs create their businesses in a friendlier environment, which is usually the USA.
The inverse of that is that this creates a huge market in the EU, where you don't have to be the best in class and the most capitalistic - you can be good enough and still make a good buck serving local clients.
So it becomes more of a jobs program for the less talented entrepreneurs and their staff?
I would say the above as a joke if it wasn't true on how exactly the situation is in parts of Europe, where local IT experts and consultants struggle to deliver 1980s level software solutions to local governments - at prices which would make any US capitalist swoon.
But you are right in what you say, I won't argue against it.