I think this is part of the misconception that many Europeans have about "the way startups work." Even if they read everything that's published, the "Hey, this new thing just launched!" and "This Social Network for Dogs is a STARTUP!" fluff outnumbers the "Yeah, we busted ass and charged real money" meat 10:1.

Naturally, what's more common is what sticks in their minds.

As an American in Vienna, I find this kind of cargo-culting everywhere.