Despite some of the froth being blown off following the rocky Facebook IPO, it remains the case that talent and hiring are a big issue in the Valley. And you may not know this, but for a long time Europeans looked onward to the U.S. and thought to themselves, “Ha! We have plenty of room left for growth! And plenty of talented, educated people! Mwah ha ha ha !”

Ok, Ok, let’s leave aside that many of them wouldn’t themselves mind moving to the warm climes of Palo Alto and the rest… Instead, let’s concentrate on what actually happened next. What happened next was a good two, three of years of growth. And, we’ve seem the rise of some significant European originated companies such as Spotify, SoundCloud, Badoo, Fon, Moshi Monsters, Shazam, Wonga, Huddle … and the list goes on.

But the honeymoon is definitely over. In the last few…

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