In terms of taxes a lot of these tech giants (facebook, apple) technically European already, with Ireland used as a tax haven. They also throw their weight aro

In terms of taxes a lot of these tech giants (facebook, apple) technically European already, with Ireland used as a tax haven. They also throw their weight around to get local tax concessions when they do open offices internationally, so I'm not sure it's that great a loss in any case. I could also see it hurting the greater industrial base, a lot of companies need software but can't afford to compete with silicon valley style salaries.