It is extremely critical that we pay attention to what I would label as top talent. The technology workforce is highly mobile and the separation of economics between a developing country and a developed country is slowly disappearing for that class of people. They can migrate just about anywhere.
If you go back to India, today they are not only hiring low-skilled people, they actually come to Boston to hire people from Harvard. The top talent is highly mobile, and unless we find a way to tackle that piece of it so that we attract the top talent here, in a world market, it is very hard to build an ecosystem that is going to sustain and grow over time. We're constantly playing catch-up, and young people tend to gravitate toward those few people who are world renowned.
Our kids try to go to good schools, like MIT. Why do we send them there, other than the brand name? It is because they will bump into the 14 Nobel laureates who are teaching there. That is sometimes the attraction, and in the technology sector, this is very critical. To draw the younger talent you must have the top talent available. Without that, the young kids are not going to come.
As Morgan mentioned, when half of the graduating class coming out of Waterloo ends up in Silicon Valley with whichever company takes them, how many do you think come back?