Possibly. Until recently, anyone who was in tech wanted to move to the US because there was simply more opportunity. Salaries are higher, chances of making it big are higher, failing is often seen as a positive in the US, etc... The adage that the best place to make money is the US and the best place to spend money is the EU still rings true.

The US become less welcoming to immigrants is a great opportunity for the EU, but it remains to be seen if they will be able to take advantage and overcome the structural differences.

https://www.challenge.org/insights/structural-differences-in...