Well, stifling regulation is one problem, but the real reason the EU is behind is the lack of a single place with low taxes on investors and talent.
The effect is compounded by all the smart talent going to SV or large rich cities (London, Zurich), leaving scraps to the rest.
Unrealized capital tax gains being reinvested tax free made Silicon Valley's exponential growth possible (which is the only reason why a16z was forced to back Trump despite the Tech are being overwhelmingly democrat leaning - they're scared they'll be taxed out of existance).
The effect is compounded by all the smart talent going to SV or large rich cities (London, Zurich), leaving scraps to the rest.
Unrealized capital tax gains being reinvested tax free made Silicon Valley's exponential growth possible (which is the only reason why a16z was forced to back Trump despite the Tech are being overwhelmingly democrat leaning - they're scared they'll be taxed out of existance).