Why is Europe so bad at producing ‘Disruptrepreneurs’ such as Uber and Airbnb?

I have just returned from presenting the keynote address with the Prime Minister of Malta on ‘The Future of Europe’ at the Follow the Entrepreneur Summit, which is the largest meeting of entrepreneurs and investors in Europe.
The Silicon Valley mantra of “fail fast, fail often” is currently a phrase rarely heard in the Rhone or Ruhr valleys. Why? The simple and rather depressing answer is that the approach to entrepreneurship throughout the EU, according to a recent FT Re