[mrDmrTmrJ]

Certainly investor culture matters a ton. And US is a big place and certainly isn't monolithic. All the stories of early silicon valley speak of a clash with 'East Coast' investors who are viewed as being more conservative on both terms and stages.

It's a little goofy, but I have a personal hunch that the high level of sunlight in Silicon Valley help entrepreneurs there - as building companies is rough so it helps to persevere if it's always bright out.

(Background, I grew up in Boston, moved to Silicon Valley, and have tried to start companies with varying amounts of success.)