Why Europe isn't creating any Googles or Facebooks

Over the past five years, U.S. venture capitalists spent $167 billion on new business ideas compared with some $20 billion by their European counterparts, according to the National Venture Capital Association.
Last year alone, U.S. investment in startup companies was $50 billion, with nearly half of that amount in Silicon Valley. The European equivalent paled at $4 billion.
http://uk.businessinsider.com/ap-why-europe-isnt-creating-any-googles-or-facebooks-2015-9