1️⃣ Why does Europe struggle to fund its own startups? Look at where it keeps its retirement money.
Americans hold retirement savings worth 153% of GDP. The Dutch, 151%. The French, 13%. Germans, 6%.
Most of Europe pays pensions out of today's wages. So it never builds the big pools of long-term capital that fund VC in the US.
(I work at Vsquared Ventures, an early-stage deep tech VC firm investing across Europe. Views my own.)
(OECD)