I'm a Canadian software engineer working in Seattle. One time on a flight back to the homeland I sat next to a Canadian tech VC. We spoke about the tech scene in Canada, and eventually she started complaining about how all the good engineers leave for the States. I mentioned my experience with the massive 50% pay gap in software engineer salaries, and she said something about how it was the fault of the exchange rate and couldn't be helped. It was a ridiculous excuse and the conversation died pretty quickly after that. If VCs want tech talent, they better pony up the money.