The London startup scene is interesting. I think it's fair to say startups here are usually less ambitious than in SF or the US in general. But they also tend to be more practical -- there's less pie-in-the-sky thinking.
I've seen firsthand a surprisingly large number of startups that make a profit from day one. And a lot of startups that were funded from nonwealthy founders' savings. My impression is that we do stuff on a smaller scale, but it tends to be more reliable.
Funny. The only London startup I've heard of was ridiculously ambitious, and has largely been succeeding, since it came out of academic research. They did manage to get bought by Google, at the very least.
I'm sure there are plenty of exceptions. I think my description is representative overall, but YMMV.
Of course, if they're the only London startup you've heard of, maybe there's a bias. Crazy ambition can garner a lot of PR, especially when it succeeds. :P
I've seen firsthand a surprisingly large number of startups that make a profit from day one. And a lot of startups that were funded from nonwealthy founders' savings. My impression is that we do stuff on a smaller scale, but it tends to be more reliable.