The EU put a priority on protecting existing businesses. They are mostly old school production companies. If you examine the hugely successful American companies, few of them existed at the point where the EU attempted to freeze success by protecting their existing businesses. So, the old school businesses are protected but stuck in time. In the US companies with inefficient business models go bankrupt leaving room for faster, leaner startups that can then grow into a whole new ecological niche that didn’t even exist before they invented it.
Yup.
The huge highly successful US companies like Google, Nvidia, Microsoft, Apple etc are all at most at just over 50 years.
SpaceX is under 25 years old.
Hard to believe when you look at how rich and dominant they are.