America's cultural ideal has been the self-made entrepreneur while Europe's was rooted in aristocracy, with status inherited rather than earned. Europe's inheritance laws show this divide.
Many European countries have "forced heirship" laws that require people to leave 50-75% of their estates to their children. Want to leave the majority of your wealth to charity? not allowed. Your kids are estranged from you, struggling with addiction, or irresponsible? still required to give them the money. Want your kids to avoid a life of entitlement? tough.
Incredibly, these laws look back at transfers made during your lifetime. If you have 3 children in France, you're required to bequeath them a minimum of 75% of your estate. Because French law calculates this based on your assets at death plus all lifetime gifts, giving away more than 25% of your wealth while alive means your heirs can legally sue to force charities or foundations to return the funds. This has limited the development of the nonprofit sector on the continent.
The cultural gap between an entrepreneurial society and one shaped by dynastic wealth is enormous. If you make it yourself, you tend to want your kids to do the same. If you inherit it, the primary goal is protecting the estate for the next gen.
Countries like Spain, France, and Italy legally entrench family dynasties, while America has historically sought to limit them through estate taxes. The result is not only a weaker culture of philanthropy and civil society in Europe, but also less economic dynamism.
There's an obvious answer here that everyone's dancing around:
Crypto is simply harder now.
Not because it was all a scam or funny money or whatever.
Crypto is harder because it's winning, and there are way more mature companies and products at scale today. This makes incumbents harder to unseat. Coinbase, Binance, Solana, Base, Polymarket, Circle, Tether--they're all bigger and better and more entrenched than they were even just a few years ago.
This is a natural thing that happens with industries. In the early Internet, it was a lot easier to build a social network. Very hard after 2015. A couple years ago, there was room to attack the big AI labs, now it's almost impossible to get any distribution at all.
That doesn't mean there's no room for startups. But it does mean the land grab phase is over. During the land grab, almost anyone can win given the right timing. But we're in the midgame now, and most of the board is already occupied. At this stage, you'll have to attack someone powerful to take over some land, not just plant a flag in an empty field.
There are still a few greenfield areas, and there's always room for people who can genuinely innovate. But crypto is harder now, and that means the ideas need to be sharper, the teams need to be stronger, and the bar is rightfully higher than a few years ago.
There was a businessman whose wife was REALLY into sex...
He was a hardworking guy, and he still managed to satisfy his wife's needs.
One time, he had to leave for another country for a business meeting.
He would be gone for a week.
He knew his wife's sex drive and didn't want to take risks, so he thought he should gift her something so she could satisfy herself and didn't think about searching for a new partner, so he went to an adult toy shop.
As soon as he entered, the first thing he saw was a blow-up doll, but he soon dismissed the thought of buying it since it was almost like another human. He then proceeded to the dildos section.
There he saw all kinds of dildos, from massive to tiny to ones which glow in the dark, but none of them grabbed his interest, so he decided he would go somewhere else and began to leave the shop when he was stopped by the owner sitting behind the cash counter.
"I know what you're looking for", the owner says
This grabbed the businessman's attention, and he stopped to hear what the owner had to say.
"There was a man many years ago who looked just like you, wealthy but tired. He had a wife whom he couldn't satisfy, and she was about to leave him when he came here and got my help. He's happily married since then"
"How exactly did you help him?" asked the businessman.
The cashier bent down and revealed an engraved wooden box from under the counter.
There were all sorts of symbols on the box. He opened it, and inside it was a pink latex dildo, similar to the ones on the shelf.
"This is an ancient artefact haunted by a Maori tribe who all died of sex deprivation when all the women of their village were killed in a plague, all their souls now reside in this dildo", said the owner.
The businessman, being a sceptical guy, laughed and then turned to leave.
The owner says, "You're all the same, thinking there's nothing above this material plane of existence. Watch this."
The businessman turns around.
"Voodoo Dildo, keyhole"
To his astonishment, the businessman saw the box violently shake and the dildo rise in the air, float for a second and hover over to the keyhole in the front door and start to shag it. The dildo shagged the keyhole with such force that the door unhinged and started cracking.
"Voodoo Dildo, box"
The dildo stops shagging the door and returns to the box.
"ILL TAKE IT, cried the businessman, and after a lot of negotiation, he finally purchased the dildo and ran home.
He tells his wife about the dildo and how to use it. "Voodoo Dildo, pussy. That's how you activate it", the businessman told his wife and went on his business trip.
After 3 days of being horny, the wife finally gave in to her urges and opened the wooden box, took out the dildo and uttered "Voodoo Dildo, pussy". The dildo shot from her hands and started shagging her. First slowly and then changing speed as the way she wanted.
After an hour of shagging, the wife thought it was enough, and she grabbed the dildo to turn it off.
But it didn't stop shagging her.
Her husband had forgotten to tell her how to stop the dildo.
She started panicking and called him, but he didn't pick up, so she started to dress up and go to the hospital, all the while the dildo was still shagging her.
She got in her car and started driving.
On the way, she had a huge orgasm, and her car swerved and almost hit another car.
A cop saw this, and she was stopped at the side of the highway.
A cop approached her.
"Ma'am, you almost hit the grey SUV back there. Have you been drinking?"
The wife then proceeds to tell him all about her husband and the voodoo Dildo and that she can't stop it now.
The policeman then says,
"Yeah, right, Voodoo Dildo my ass."
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The attacks on Europe I've seen here the last couple of days, including from people I've generally considered interesting and sophisticated, have been getting unhinged...
I get that EU has problems - GDPR clickthroughs are dumb, Chat Control is awful, they need to be less bureaucratic and supportive toward entrepreneurs, its kindness toward Ukraine often doesn't extend well to Gaza or Sudan or other places, people saying mean things about criminals getting longer sentences than the criminals is just crazy - but the apocalyptic attitude about the issues, evoking imagery of barbarians pillaging Rome etc, seems really over the top.
It feels more like a coordinated attempt to delegitimize than constructive criticism.
(I don't believe the line that "the target is not Europe, it's the EU": I've seen many instances of London specifically being targeted in the hate session, so no, much of it is an attack on Europe)
It just does not match my experience from spending an average of two months every year there for the last decade.
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