Why do we not have any significant tech companies from Southern Europe? First of all, I'm not making an accusation here. Just curious. I'm also not talking about giants like Amazon or Google: nobody in Europe is close to that.

 I'm talking about companies such as Spotify or game developers. 

Spain and Italy, in particular, are both richer and more populous than most EE countries. Their combined population is over 100 million. Russia, a *much* poorer country of 144 million has Yandex and VK, to name a few. Poland has CDPR and Techland (Dying Light).

I am just puzzled why relatively rich countries in Southern Europe don't seem to produce these kinds of firms. I doubt it's because of lack of capability, so what is the reason?