There are a tremendous amount of companies that come out here. Internet penetration is so high that you get instant feedback. You do something here, and you see if it works in two months. In the U.S., it takes two years. We enjoy a small wired sample.
Success breeds success.
An exciting entrepreneurial culture is forming. We have the largest European portal, Scandinavia Online. We have 8 of the 10 largest Web agencies in Europe located here in Stockholm. The Americans do have some advantages. They have a big home market and a market cap which may help them in the initial battles.