When a government announces tax hikes and entrepreneurs celebrate, you know something's deeply wrong. Yet that's exactly what happened in Britain this week, as tech founders cheered Labour's 'modest' increase in capital gains tax—simply because they'd feared worse. It's like watching passengers applaud because their delayed flight finally took off.
Britain has built an economy that rewards playing it safe over taking bold risks. Look at the London Stock Exchange's biggest companies—they're dominated by oil giants, mining companies, and traditional banks.
American venture capital firms manage $270 billion in assets, while European VCs collectively manage just $44 billion, representing a funding gap—a chasm that separates ambition from achievement.
Contrast this with America's transformation. Over the past two decades, the U.S. created conditions where tech companies could prioritize growth over stability, spurring innovation and job creation.
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