Absolutely see your point and I do not disagree! As mentioned in my post, I try to simplify things by generalizing which is not a good way to do it. However, I wanted to point out 1) the structural differences given by the diffuse and heterogeneous European market and 2) the difference in the funding market which lead to a different approach startups on the other side of the Atlantic pursue.
I also agree that most startups people just never hear of while they could actually be having a viable and sustainable business. Due to the big US market though these startups often face either strong competition or a broadly spread out user base which is difficult to target. I know from experience in a B2B startup in Germany that having a smaller market size and knowing all the important players in person actually helps. And looking at the most successful 1% you mentioned in the US and in Europe you mainly see that European startups had to expand to other markets way earlier and more often while US companies can live long enough from their own domestic market before going abroad.
I guess my framework should add some thoughts on the smaller tech companies that arise in masses nowadays and that cannot focus on growth right away. Thanks for your comment Joshua, it’s always great to change angles of thinking!