It's sort of annoying, actually, that Google is hiring so voraciously in Waterloo. It's making it extremely difficult for us to hire awesome Waterloo grads partly for this reason.
So, while we continue to hire from Waterloo where it works, we're also looking further afield for talent... Iqaluit here we come!
I agree with you, and about Waterloo specifically.
I'm probably going to be banned from HN for saying this, but the giant Google talent vacuum cleaner is one potential reason that starting a startup right now is especially difficult and maybe not the right choice.
When I've started startups before, it's been in economic down times (eg. right after the .com boom). I actually preferred it that way.
To be honest, one can always find a reason NOT to start a company. Successful companies have been founded in good times and in bad, in war and in peace, with easy access to talent or with one helluva difficult grind.
So, while we continue to hire from Waterloo where it works, we're also looking further afield for talent... Iqaluit here we come!