And London VCs are still far more risk-averse than SV VCs.
This is the real problem. Most US startups pay considerably more than 40k GBP = $63k USD. $63k USD would be considered laughably low for anyone besides perhaps a middle-of-the-pack recent graduate.
So it seems that startups need to either generate revenue quickly move to where the money is (NY and SV, apparently).
Or consider alternate compensation, such as alternating remote work. London is a cheap hour flight away from most countries in Europe. Most big companies in London simply don't allow, say, a week remote and a week on-site. Be flexible and you might find a much bigger talent pool.
But 63,000 USD is far above the US media income (44,000 USD).
Granted, I made that just out of college as well but I was living a whirlwind life of monthly travel, and daily partying. For a single person 63,000USD is a lot of money---money enough that when I cut back on partying I could easily consider taking on a mortgage for a house with my discretionary income.
This is the real problem. Most US startups pay considerably more than 40k GBP = $63k USD. $63k USD would be considered laughably low for anyone besides perhaps a middle-of-the-pack recent graduate.
So it seems that startups need to either generate revenue quickly move to where the money is (NY and SV, apparently).