Ask HN: SOPA in America - Will IT go overseas?

From my comfortable (regarding IT-laws, not the financial crisis) watching post in Europe I've been following the frenzy in the American Internet industry, that has been stirred up by SOPA. Some people even think that Google might move its DNS-Servers to Europe. Do you think other firms might also migrate overseas? Will there be some kind of new IT-boom in Europe (or somewhere else, like India) whilst America is simply left behind by "fleeing" companies? Or is this simply a hype with negative results only for the users?

Regards, bad_alloc