Don't you see that the same bureaucracy that adds friction to entrepreneurship also serves the purpose of protecting the incumbents?
It is odious to start a company in the EU. There are many accounts of this on HN itself.
Onerous?
> It is odious to start a company in the EU.
This is false.
> There are many accounts of this on HN itself.
Yes, I saw one just recently where the poster made obviously false statements about starting a company in Germany.
(Before you downvote this comment, please note that I have started multiple companies in the EU. I'm speaking from personal experience, not from something I've read on Hacker News.)
Starting a company is not the hard part of staring a company in any country. Many many companies do exist in the EU. It might be annoying but it's obviously hardly insurmountable.