The talent they are competing for can work anywhere, and this untethering of geolocation is only increasing. The relevant market of candidates for large Europea

The talent they are competing for can work anywhere, and this untethering of geolocation is only increasing. The relevant market of candidates for large European cities is increasingly just a pan-Western talent market, and lower cultural salary norms are really hurting Europe, leading to brain drain and reduction of major tech hubs.