> If only we could compare the success levels of the two funding scenes...

As long as the US side doesn't seek to brush over the failures by attempting to focus people's attention on the successes. And also as long as we have a fair definition of "success" .... an exit strategy that comprises being able to hype up a blatantly overvalued IPO is not "success", for example.

Let's face it there have been some quite spectacular failures in the US in recent years. As well as many more less spectacular that have burnt through millions of dollars in cash before calling it quits.

All that glitters is not gold. The US has a mentality of "throwing more money at the problem", but that does leave you in an environment where larger and larger burn rates become acceptable.

The entire point of VC is a high failure rate and lots of failures with a few breakaway successes.