It's not social democracy, otherwise Sweden and Finland wouldn't punch so much above their weight.
It's most likely an artifact of smaller, less liquid capital pools and the fact that the US is a really easy large market to tap into, leading to European startups investing into the US market in preference to their own.
It's most likely an artifact of smaller, less liquid capital pools and the fact that the US is a really easy large market to tap into, leading to European startups investing into the US market in preference to their own.