Depends on how it's handled. If it's bastardized with US companies coming in to exploit the existing low salaries and then suppress them by co-ordinating and fi

Depends on how it's handled. If it's bastardized with US companies coming in to exploit the existing low salaries and then suppress them by co-ordinating and fighting to bring in others from other low-paid countries, then yes it's likely going to be ruinous to it. If it's a small, European centric scene, by Europeans and for Europeans which grows organically outward then it stands a chance to enrich the city. Personally I'm not much of an advocate for Europe welcoming SV folks and their VC masters in.