Market share does not equal monopoly. Why aren’t Europeans building better search? It isn’t because of Google, it’s because of the risk-adverse tendencies of investors in Europe. If you pitched a search engine to a Euro-VC, you wouldn’t even get asked for a deck. Europe isn’t very innovation driven: they prefer the 2x rather than the 200x. The proof is simple: just look at the flow of European investment money: rarely do they invest in high-risk, high-reward ventures. While in the US, you can raise money for almost anything.
