Developers are cheaper but not a lot, and regulatory costs are higher - the difference in the end in not huge. Plus: if you want to win a global market you need global talent at global wages. You need a lot of private capital and Europe does not have any.

EU has enough capital it just works on US market cause there no unified capital market in EU. If Trump hits EU with tariffs I hope this changes.

You're right, the EU does have a lot of capital, but its not made available to European business.