Earlier quoted context omitted.
They can't hold onto their people, have very high churn and dissatisfaction rates, etc. Do you have citations for this?
What better way than to link you to google? :) http://www.google.com/search?sourceid=chrome&ie=UTF-8... And specifically http://techcrunch.com/2010/09/01/google-making-extraordinary... More generally, this is common knowledge around the valley.
And it is "common knowledge" that Google has "very high churn and dissatisfaction rates"? Is that because Techcrunch or Valleywag says so? I think there is a large vocal minority of (in most cases) non-Google employees who are so quick to talk about how Google is a terrible place to work and everybody hates it. And internally at Google, there are a bunch of happy employees who just laugh at all the made up stories about how they are supposed to feel.
Look, people are going to leave Google. That is what is going to happen when you have a bunch of really young and talented engineers working in a big company, but don't think this is because Google is some terrible place to work. I'll bet the satisfaction rates of Google employees is among the highest of any large company.