Entrepreneurs in Europe

A rather grim article from the Economist on the difficulties that face entrepreneurs, particularly start-ups, in Europe. The accompanying editorial contains the amazing statistic that:

“Since 1975 the countries now in the euro zone have given birth to just one company currently among the world’s 500 biggest…by contrast California alone has created 26.”

See also: “Two years ago we invested $250,000 in Instagram…the investment will be worth $78,000,000 when the Faceboook acquisition closes”