Doubt they even see it that way. And the industry won't be killed. Like with drugs, it will simply be driven underground. An astute startup will register an offshore company and develop locally. And then there's the rise of remote working which makes staying legal even easier.

And the US...

"Any company with operations in the UK -- including Apple, Facebook, Google, Microsoft, and Twitter, which have submitted written evidence calling on the British lawmakers to revise the bill -- would have to comply with the rules."